comprehensive annual financial report · 2016. 1. 12. · program expenses by function ... junction...

Northeast Southeast Trinity River

South Northwest Trinity River East

For the Fiscal Year Ended August 31, 2011

Comprehensive AnnualFinancial ReportComprehensive AnnualFinancial Report

Tarrant County College DistrictTexas

Tarrant County College District

Comprehensive Annual Financial Report

For the Fiscal Year Ended

August 31, 2011

Prepared by:

Finance Department


Texas

TARRANT COUNTY COLLEGE DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT

TABLE OF CONTENTS Page

INTRODUCTORY SECTION Chancellor’s Letter ...................................................................................................... i Transmittal Letter ........................................................................................................ iii GFOA Certificate of Achievement ................................................................................ ix Principal Officials .......................................................................................................... x Chancellor’s Executive Leadership Team................................................................... xi FINANCIAL SECTION Independent Auditor's Report ..................................................................................... 1 Management’s Discussion and Analysis..................................................................... 3 FINANCIAL STATEMENTS Statements of Net Assets ..................................................................................... 10 Statements of Revenues, Expenses and Changes in Net Assets ....................... 12 Statements of Cash Flows .................................................................................... 13 Notes to Financial Statements.............................................................................. 14 SUPPLEMENTARY DATA Schedule of Operating Revenues ........................................................................ 34 Schedule of Operating Expenses by Object ........................................................ 36 Schedule of Non-operating Revenues and Expenses ......................................... 38 Schedule of Net Assets by Source and Availability .............................................. 40 STATISTICAL SECTION - (Unaudited) Net Assets by Component .......................................................................................... 44 Revenues by Source ................................................................................................... 46 Program Expenses by Function .................................................................................. 48 Tuition and Fees ......................................................................................................... 50 Assessed Value and Taxable Assessed Value of Property ........................................ 52 State Appropriation Per FTSE and Contact Hour ....................................................... 54 Principal Taxpayers ..................................................................................................... 56 Property Tax Levies and Collections .......................................................................... 58 Ratios of Outstanding Debt ......................................................................................... 60 Legal Debt Margin Information .................................................................................... 62 Pledged Revenue Coverage ....................................................................................... 64 Demographic and Economic Statistics – Taxing District ............................................ 66 Principal Employers .................................................................................................... 68 Faculty, Staff and Administrators Statistics................................................................. 70 Enrollment Details ....................................................................................................... 72 Student Profile ............................................................................................................. 74 Transfer to Senior Institutions ..................................................................................... 76 Capital Asset Information ............................................................................................ 77

FEDERAL SINGLE AUDIT SECTION

Schedule of Expenditures of Federal Awards ............................................................. 79 Notes to Schedule of Expenditures of Federal Awards .............................................. 82 Independent Auditor’s Report on Internal Control over Financial Reporting and

on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards ......................... 83

Independent Auditor’s Report on Compliance with Requirements That Could have a Direct and Material Effect on Each Major Program and on

Internal Control over Compliance in Accordance with OMB Circular A-133 ........ 85 Federal Schedule of Findings and Questioned Costs .......................................... 87

TARRANT COUNTY COLLEGE DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT

TABLE OF CONTENTS (Continued)

Page

STATE SINGLE AUDIT SECTION Schedule of Expenditures of State Awards................................................................. 89 Notes to Schedule of Expenditures of State Awards .................................................. 92 Independent Auditor’s Report on Compliance with Requirements that Could Have

a Direct and Material Effect on Each Major Program and on Internal Control over Compliance in Accordance with UGMS Single Audit Circular ...................... 93

State Schedule of Findings and Questioned Costs .................................................... 95

Introductory Section



the same time, we are continuing to review differ-ent approaches as we look to fund increased needs with decreased resources. These strategies and actions will keep Tarrant County College on a for-ward path toward serving the complete needs of our community. They will help to fund our facilities maintenance and operation and renewal and re-placement of facilities that have outlived their effi-ciency, and will also support exploration of potential projects that will help us meet the growing and changing needs of our community by training stu-dents for real jobs as outlined in local, state and national economic data. The 82nd Legislature formula funding for Tarrant County College not only decreased from the 2010-2011 biennium, but also did not account for the rapid growth in enrollment—an issue that remains a concern for community colleges across Texas. There is more than $7 million decline in funding for employee health insurance, a cost that must be covered by community colleges to provide our fac-ulty and staff with state-mandated benefits. The 82nd Legislature also passed a measure to require the Texas Higher Education Coordinating Board to provide a mechanism to accommodate Momentum Points Funding, which will be based on student suc-cess in various categories. I am a member of the state-wide committee appointed by the Texas Higher Education Coordinating Board to make rec-ommendations on what the categories will be and how points will be assigned. This drastic change in funding strategy will present another new challenge for community colleges. The financial situation of today dictates that we must continue to achieve greater success with less, and in this past year, we have done just that. Each of our campuses has seen tremendous growth in terms of enrollment numbers and quality services offered to our students. We have made great strides in working toward the goals set forth by our mission and the Vision 2015 Strategic Plan. This fall, the College successfully opened the Trinity River East Campus for Health Care Professions in

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Chancellor’s Letter

December 13, 2011

To the Board of Trustees:

I am pleased to present the Tarrant County College Comprehensive Annual Financial Report to you and our community. It is a comprehensive picture of the District’s financial operations for Fiscal Year 2011, which ended August 31. As the economy slowly climbs to recovery, the Col-lege’s position both economically and academically remains strong. This spring, for the first time in six years, credit tuition costs for in-county students will increase by $2 per credit hour. For the average student, who takes 8 credit hours per semester, this will mean an increase of $16 per semester. Our new, $52 per credit hour tuition still remains among the lowest among Texas community col-leges. Additionally, we went to the effective tax rate, which increases the College’s Ad Valorem tax rate from 13.764 cents per $100 of assessed prop-erty value to 14.897 cents. We continue to follow the “pay-as-you-go” strategy which continues to allow us to fund much needed facilities updates. At

Erma C. Johnson Hadley

downtown Fort Worth to more than 700 allied health and nursing students. The facility provides state-of-the-art training and opens doors to numer-ous possibilities for partnerships with the local workforce and health care industry. The health care community and other community leaders cele-brated the new campus with us during the Tarrant County College Foundation’s “Little River Music” and raised much needed funds for student scholar-ships. Along with the campus opening, the College has continued its keen focus on enhancing student ac-cess and success through the following initiatives and programs. Achieving the Dream, a nationwide initiative

that emphasizes data-driven decisions and re-sults and is designed to help low-income and students of color succeed.

Diversity 2015, a College program to assess

and improve our culture throughout the Col-lege.

Title III Part A Strengthening Institutions Pro-

gram Grant, providing federal funds for student success programs.

The Faculty Academy and a District-wide Pro-

fessional Development Program to enhance the growth of our faculty and staff.

The Haltom City Northeast Center to provide

greater access to underserved populations. The addition of Fort Worth ISD to the Northwest

Campus Early College High School. Expanding partnerships between Fort Worth

ISD and the Trinity River Campus for an Early College High School on that campus.

The official TCC mascot, Toro the Trailblazer,

developed to enhance outreach to youth and the community to create a college-going cul-ture.

Like our new mascot, Toro, the proud faculty and staff of Tarrant County College move forward to the next year with a trailblazing spirit. Whether related to our financial situation or the development of new approaches to challenges, our dedication will drive the ability to achieve access and success for all. Sincerely

Erma Johnson Hadley Chancellor

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Transmittal Letter

December 13 , 2011 To: Chancellor Erma C. Johnson Hadley, Members of the Board of Trustees, and The Citizens of the Tarrant County College District The comprehensive annual financial report of the Tarrant County College District for the fiscal year ended August 31, 2011, is hereby submitted. The purpose of this report is to provide detailed informa-tion concerning the financial condition and performance of the District. Responsibility for the preparation and integ-rity of the financial information and fairness of the presen-tation, including all disclosures, rests with the manage-ment of the District. To the best of our knowledge, the enclosed data are accurate in all material respects and are reported in a manner designed to present fairly the financial position and results of operations of the District. All disclosures necessary to enable the reader to gain an understanding of the District’s financial activities have been included. COMPREHENSIVE ANNUAL FINANCIAL REPORT The Tarrant County College District’s comprehensive an-nual financial report (CAFR) for the fiscal year ended Au-gust 31, 2011 was prepared by the Finance Department. The financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP) as estab-lished by the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB) and comply with Annual Financial Reporting Re-quirements for Texas Public Community and Junior Col-leges as set forth by the Texas Higher Education Coordi-nating Board. The Notes to the Financial Statements are provided in the financial section and are considered es-sential to fair presentation and adequate disclosure for this financial report. The notes include the Summary of Significant Accounting Policies for the District and other necessary disclosures of important matters relating to the financial position of the District. The notes are treated as an integral part of the financial statements and should be read in conjunction with them. Further, this letter of trans-mittal and the financial statements should be read in con-junction with the Management’s Discussion and Analysis (pages 3-9) which focuses on current activities, decisions, and currently known facts to provide an overview of the financial statements and reasons for significant changes from the prior year. The independent firm of certified public accountants of Weaver and Tidwell, L.L.P., was engaged to audit the finan-cial statements and related notes and issue a report

thereon. They have informed District management and the Board of Trustees that their audit was conducted in accordance with generally accepted auditing standards, which require a consideration of internal controls in deter-mining audit procedures. The report of the independent auditors based upon their audit of the financial state-ments is included in the financial section of this report. The District is required to undergo an annual federal single audit in conformity with the provisions of the Single Audit Act Amendments of 1996, and U.S. Office of Management and Budget Circular A-133, Audits of States, Local Govern-ments and Non-Profit Organizations, and an annual state single audit in conformity with the Texas Governor’s Office of Budget and Planning Uniform Grant Management Stan-dards Single Audit Circular. Information related to these single audits, including the schedule of federal expendi-tures of awards, schedule of state expenditures of awards, and auditor’s reports on compliance and on internal con-trols is included in the federal and state single audit sec-tions of this report. ORGANIZATION OF DISTRICT The Tarrant County College District was established as a public community college in an election held in Tarrant County, Texas, on July 31, 1965. The District operates as a community college district under the laws of the State of Texas. An elected, seven-member Board of Trustees, that has oversight responsibility and control over all District activities, governs the District. The Board of Trustees has no financial accountability over Tarrant County or other Tarrant County districts and, accordingly, only financial data for the Tarrant County College District is included in this report. MISSION AND VALUES Tarrant County College District, a comprehensive two-year institution, is dedicated to providing quality education that exceeds the expectations of the people of Tarrant County.

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Accordingly, the mission is as follows: Tarrant County Col-lege District provides affordable and open access to qual-ity teaching and learning. The District implements its mis-sion through a clearly defined set of programs, services, and partnerships that include university transfer programs; workforce education programs; technical programs; devel-opmental courses; adult literacy courses; continuing edu-cation and community services; an extensive curriculum; a highly qualified, enthusiastic, innovative, faculty and staff; appropriate technology, equipment, and learning re-sources; diverse modes of instruction and delivery; sup-port services to foster student success; work and partner-ships in support of the cultural and economic development of the community; and a commitment to institutional effec-tiveness—an ongoing process of self-examination, self-improvement, and an unending pursuit of excellence. Tarrant County College District is committed to: Excellence - belief in providing outstanding quality in

educational programs, administrative support, and services to students, faculty and staff;

Access - belief in providing educational opportunities for all members of the community;

Diversity - belief that the District should reflect the diversity of the community;

Student Success - belief in providing quality instruc-tion, resources, and support services to assist our students in achieving their lifelong goals;

Service to Community - belief in the importance of engaging with the community to enhance economic vitality and quality of life; and

Innovation and Creativity - belief in cultivating a learn-ing environment that evaluates and incorporates emerging technologies and methodologies to enhance the quality of instruction and administrative support for students, faculty, and staff.

ECONOMIC CONDITION AND OUTLOOK Tarrant County is situated in North Central Texas. There are a total of 34 incorporated cities in Tarrant County, with the two largest being Fort Worth and Arlington. The popu-lation of the county at the last census estimate numbered 1.8 million, and the county was among the fastest growing in the nation according to the 2010 Census. A low cost of living and competitive labor costs make Tarrant County an attractive location for businesses. Many corporate head-quarters are located here. Businesses in Tarrant County have access to Dallas/Fort Worth International Airport, one of the nation’s largest and busiest airports, and to Alliance Airport, a facility dedicated to industrial use. Because of the excellent transportation advantages, Tarrant County is home to many wholesale and distribution facilities. Tarrant County is home to a diverse spectrum of busi-nesses and lifestyles. Cattle and agriculture, as well as

aerospace companies and defense contractors, play a major role in the economic foundation of the county. Tar-rant County has changed dramatically over the past few years. Once dependent on defense plants and its military base, Tarrant County's economy has been transformed into one of the most vibrant and diverse in the nation and is leading the regional resurgence in business relocations and expansions, retail development and new housing con-struction. Once tied to the oil rigs and cattle ranches of west Texas, Tarrant County's businesses today reach around the globe and the County's commercial and indus-trial airports are among the country's foremost interna-tional gateways. MAJOR INITIATIVES With Vision 2015 Strategic Plan at the forefront of Tarrant County College District’s many initiatives, the District con-tinues to make great progress toward achieving student access and success on all fronts. The five-year strategic plan, reflective of the District’s vision and values state-ments, was created in 2010 to guide TCCD through 2015. Inclusive of measurable action items and supporting strategies, Vision 2015 is comprised of three institutional goals: 1. Support student learning and success through excel-

lence in teaching and learning, support services, flexi-ble instructional delivery systems, student engage-ment, learning outcomes assessment, and dynamic curricula.

2. Ensure affordability, accessibility and diversity reflec-tive of the community.

3. Promote institutional effectiveness through continu-ous improvement, collaboration with and service to the community, employee engagement, professional development, and optimal environment conducive to quality teaching and learning.

Supporting these goals are 20 strategies addressing spe-cific areas. Along with action steps, Vision 2015 also in-cludes specific requirements to accurately measure par-

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ticipation, student success and institutional student learn-ing outcomes. Three chief programs have launched since the adoption of Vision 2015 by the Board of Trustees last April: Achieving the Dream; the Title III, Part A, Strengthening Institutions Program Grant; and Diversity 2015. These programs serve as crucial instruments in the District’s journey to overcome student success obstacles, and are discussed in more detail in the following report. Achieving the Dream In 2010, Tarrant County College District took an important step toward increased student access and success by join-ing the nationwide initiative, Achieving the Dream: Commu-nity Colleges Count. Conceived in 2004 by Lumina Founda-tion and seven national partner organizations, Achieving the Dream is the largest nongovernmental reform move-ment for student success in higher education history. With 160 community colleges and institutions, working through-out 30 states and the District of Columbia, Achieving the Dream helps 3.5 million community college students have a better chance of realizing greater economic opportunity and achieving their dreams.

Through Achieving the Dream (ATD), TCCD will continue to focus on making lasting changes in policies, programs, and services that are integrated to support success for all students. The tide is turning for TCCD because of the 70-plus volunteers (including faculty, staff and administra-tors), from all five campuses, who agreed to lead the ATD implementation efforts. In the spirit of creating an overall atmosphere of student success, the ATD Implementation teams received their charges, and have dedicated them-selves to the work ahead. Based on the five ATD success indicators, TCCD began working on the intervention implementation process and established two top priorities:

Priority 1: Increase student success through a compre-hensive First-Year Experience program. 1. Implement College-wide mandatory New Student Ori-

entation. 2. Implement intentional, appreciative advising and case

management, including faculty engagement in advis-ing.

3. Review and strengthen Transition to College Success course.

Priority 2: Increase student success in development edu-cation and three gateway courses. 1. Develop and implement Early Academic Alert System. 2. Review, strengthen and align math curriculum and

instructional methods to support student success. Diversity 2015 Together, the Tarrant County College District Board of Trus-tees and Chancellor have supported large-scale efforts to increase the diversity and equity of the District since the establishment of Diversity 2015. Such efforts have been visibly supported through the employment of an associate vice chancellor for institutional diversity, who is responsi-ble for the newly established Institutional Diversity Office. The goals of Diversity 2015, a cornerstone of TCCD Vision 2015, are based upon extensive research and measure-able efforts toward success. To date, the Office of Institu-tional Diversity has: Formed a Diversity 2015 Project Planning team. Conducted a cultural assessment of the state of diver-

sity at TCCD. Captured, analyzed and synthesized internal and ex-

ternal data to establish a baseline from which pro-gress can be measured.

Identified strengths, opportunities and challenges, and reviewed and recommended integration of best practices.

Produced TCCD diversity monologues that reflect fac-ulty, staff and student experiences.

Held a Diversity and Inclusion strategic summit for all constituents.

Developed Diversity and Inclusion framework with strategic direction and desired five-year results.

Title III, Part A Strengthening Institutions Program In October 2010, Tarrant County College District was awarded a $2 million grant from the U.S. Department of Education that offers an increased focus on the success of all first-time-in-college students, faculty and staff develop-ment aimed at supporting student success, and increasing

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persistence and graduation rates, specifically among Afri-can-American and Hispanic student populations. The Strengthening Institutions Grant covers a five-year period, at $400,000 per year. Grant funds are used to reach goals directly linked to the institution’s membership in the nationwide Achieving the Dream initiative. In its second year, Title III Grant activities included spon-sorship of the Student Development Institute, a Profes-sional Development seminar featuring a First-Year Experi-ence expert and multiple webinar sessions. Additional funding was provided for 11 innovative faculty and staff projects aimed to increase student success, and TutorTrac Software to measure student use of the District’s tutoring labs.

Trinity River East Campus Trinity River East Campus (TREC) for Health Care Profes-sions opened in August 2011 to more than 700 currently enrolled students. Bringing together Nursing and several Allied Health programs, TCCD is helping to meet the de-mand for health-care jobs, one of the fastest growing seg-ments of the Tarrant County economy. The fully accredited programs produce licensed, workforce-ready profession-als.

The facility features a simulation hospital offering real-world experience to students and cross-disciplinary learn-ing opportunities with varied and complex conditions. Lo-cated close to the Fort Worth medical district, TREC offers an opportunity to partner with health-care organizations to develop and strengthen both credit and Continuing Educa-tion programs for health-care professionals. Within its first month of operation, TREC was recognized with the prestig-ious Trailblazer Award for Sustainable Development from Downtown Fort Worth Inc.

Professional Development The Faculty Academy (TFA) was established as a resource for TCCD staff to enhance their skills as exemplary custodi-ans of student success, and to practice continuing profes-sional development in four program areas: Teaching and Learning, Discipline Enhancement, Technology and Institu-tional Development. TFA has provided four extensive and beneficial online re-sources for faculty including The Texas Network, a state-wide professional development resource for community and technical college faculty; iStream, a learning program involving stream objects that are used to read and inter-pret input from sequences of characters; Starlink (State of Texas Academic Resource Link), the nation’s oldest, video‐based, higher education professional development net-work; and Magna Commons, a resource to online seminars that address critical issues facing faculty and administra-tors today. TFA has hosted various events at all five cam-puses and plans to host experts in the higher education field. Haltom City Northeast Center In June, Northeast Campus and Haltom City celebrated the grand opening of the Haltom City Northeast Center. The new, conveniently located facility provides both credit and noncredit courses and services to residents without ac-cess to any of the five campuses.

The initiative began when Haltom City officials collabo-rated with TCCD officials to find a way to make higher edu-cation more accessible to local residents. Tarrant County College District proposed the use of the 5,000-square-foot Civic Center to provide an ideal environment for students who need help with basics before taking on the challenges of college classes. The Center serves as a fundamental stepping stone to improve the odds of succeeding in future academic environments.

Early College High School Tarrant County College District campuses continue to bridge partnerships with local school districts through Early College High School programs. The concept provides for a seamless transition from high school to college and is designed to increase the number of high school graduates while improving their success in college. The first Early College High School opened in Fall 2010 as a partnership between Northwest Campus and Lake Worth Independent School District. Since then, Fort Worth ISD has also joined as a partner with Northwest Campus. Addi-tionally, Trinity River Campus will be starting an Early Col-lege High School with Fort Worth ISD, providing education and specific exposure to the health-care professions for high school students. Trailblazers Mascot Tarrant County College District introduced the District’s official mascot, “Toro” the Trailblazer, in August 2011. The Trailblazers name symbolizes the hardworking, dedicated spirit of Tarrant County College District students and alumni, and the image represents the determination of many TCCD students who blaze their own new trails. After a year-long collaborative planning process, the mascot was selected through a series of surveys, focus groups and questionnaires that gathered input from nearly 3,000 faculty, staff, students, alumni and community members. The final Trailblazers image was selected after gaining input from nearly 1,000 local elementary school students.

The mascot, officially nicknamed Toro, will be used primar-ily in community outreach to youth audiences and on cam-pus for student-centered initiatives. Toro has already ap-peared at community events and local schools. FINANCIAL INFORMATION INTERNAL CONTROLS District management is responsible for establishing and

maintaining internal controls designed to ensure that the assets of the District are protected from loss, theft, or mis-use and to ensure that adequate accounting data are com-piled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal controls are designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management. SINGLE AUDIT As a recipient of federal, state, and local financial assis-tance, the District also is responsible for ensuring that adequate internal control is in place to comply with appli-cable laws and regulations related to those programs. This internal control is subject to periodic evaluation by management and the independent auditors of the District. As a part of the District’s single audits, described earlier, tests are made to determine the adequacy of the internal control, including that portion related to federal and state awards programs, as well as to determine that the District has complied with applicable laws and regulations. The Schedules of Findings and Questioned Costs for the Dis-trict’s Federal and Single Audits for the fiscal year ended August 31, 2011 are included on pages 87 and 95, re-spectively. BUDGETING CONTROLS The District continues to apply budgetary controls and accounting on a fund basis. The objective of these budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the District’s Board of Trustees. Activities of the unrestricted current fund, auxiliary enterprises fund, and retirement of indebtedness fund are included in the annual appropriated budget. The District also maintains an encumbrance accounting system as one technique of accomplishing budgetary control. Encumbered amounts lapse at year-end. However, encumbrances are re-appropriated as part of the next year’s budget. All funds are included in the consolidated financial statements presented, although the funds are not separately reported in the CAFR under GASB 34 and 35. (See Note 2 to the Financial Statements, Summary of Significant Accounting Policies, pages 14-17) As demonstrated by the statements and schedules in-cluded in the financial section of this report, the District continues to meet its responsibility for sound financial management. DEBT ADMINISTRATION As of August 31, 2011, the District had $30.6 million of general obligation bonds and continues to be rated AAA

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and Aa1 by Standard & Poor’s and Moody’s Investors Ser-vice, respectively. Since 1998 when the Board of Trustees adopted the “pay-as-you-go” strategy, the District has worked to reduce the level of outstanding indebtedness and accompanying debt service expense, and we expect this trend to continue. The District has no plans to issue additional bonds; current and planned capital expendi-tures will be funded from District investments or budget resources. As a result, Tarrant County citizens get their money’s worth – dollar for dollar – rather than seeing about a third of all capital outlay funds going to pay inter-est on bonds. Students are winners, too, as the District is able to add more and better facilities. This cash basis “pay-as-you-go” approach to capital funding is unique to TCCD among the 50 Texas public community colleges. Management’s Discussion and Analysis provides addi-tional detail on implementation of the District’s financial strategy. INDEPENDENT AUDIT State statute requires an annual audit by independent certified public accountants. The purpose of an independ-ent audit is to provide assurance, based on independent review and testing, that the basic financial statements and accompanying notes are fairly stated in all material re-spects. The District’s Board of Trustees selected the ac-counting firm of Weaver and Tidwell, L.L.P. In addition to meeting the requirements set forth in state statutes, their audit also was designed to meet the requirements of the Federal Single Audit Act Amendments of 1996 and related OMB Circular A-133 and the State Single Audit related to the Uniform Grant Management Standards Single Audit Circular. The auditor’s reports related specifically to the single audits are included in the Single Audit Sections. AWARDS The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the District for its comprehensive annual financial report for the fiscal year ended August 31, 2010. This was the nine-teenth consecutive year that the District has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a District must publish an easily readable and efficiently organized comprehensive annual financial report. The report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year. We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program’s requirements, and we are submit-ting it to the GFOA in anticipation of another certificate.

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ACKNOWLEDGMENTS We are grateful to the Board of Trustees for its diligent planning and oversight of the financial operations of the District. We would particularly like to acknowledge the Chancellor and the Chancellor’s Executive Leadership Team for providing the resources necessary to prepare this financial report. Finance Department employees are rec-ognized for their contributions to the completion of this report. We would also like to thank the accounting firm of Weaver and Tidwell, L.L.P., for its timely completion of the audit. Sincerely,

Mark E. McClendon Vice Chancellor for Finance Nancy H. Chang Associate Vice Chancellor for Finance Stan Vick, C.P.A. Director of Accounting Lori Lester, C.P.A. Chief Accountant

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TARRANT COUNTY COLLEGE DISTRICT

PRINCIPAL OFFICIALS

AUGUST 31, 2011

ELECTED OFFICIALS

Term Expires

President of the Board Bill Greenhill May 2016

Vice President of the Board Kristin Vandergriff May 2014

Secretary of the Board O.K. Carter May 2016

Assistant Secretary of the Board Louise Appleman May 2012

Member of the Board Joe Hudson May 2014

Member of the Board Gwendolyn Morrison May 2012

Member of the Board Robyn Medina Winnett May 2014

ADMINISTRATIVE OFFICIALS

Chancellor Erma C. Johnson Hadley, M.Ed.

Vice Chancellor for Student Success Joy Gates Black, Ed.D.

President, Southeast Campus Judith J. Carrier, Ed.D.

President, Northeast Campus Larry J. Darlage, Ph.D.

President, Trinity River Campus Tahita M. Fulkerson, Ph.D.

Vice Chancellor for Communications & External Affairs Reginald Gates, M.Ed.

Vice Chancellor for Administration William W. Lace, Ed.D.

President, Northwest Campus Elva C. LeBlanc, Ph.D.

Vice Chancellor for Finance Mark McClendon, M.S., M.B.A.

Vice Chancellor for Real Estate and Facilities Nina Petty, B.B.A.

Vice Chancellor for Information and Technical Services Maria Shelton, M.B.A.

President, South Campus Ernest L. Thomas, Ph.D.

Vice Chancellor for Academic Affairs David A. Wells, Ph.D.

FINANCE OFFICIALS

Associate Vice Chancellor for Finance Nancy H. Chang, M.B.A.

Director of Accounting Stan L. Vick, C.P.A.

Chief Accountant Lori Lester, C.P.A.

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Chancellor’s Executive Leadership Team

Board of Trustees

Chancellor

Vice Chancellor forAcademic Affairs

Vice Chancellor forAdministration

PresidentSouth Campus

PresidentNortheast Campus

PresidentNorthwest Campus

PresidentSoutheast Campus

Vice Chancellorfor Real Estate and

Facilities

Vice Chancellorfor Communicationsand External Affairs

Vice Chancellorfor Finance

Vice Chancellorfor Information andTechnical Services

PresidentTrinity River Campus

Vice Chancellorfor Student Success

FinancialSection

FinancialSection

Financial Section

3

Management’s Discussion and Analysis

The Management’s Discussion and Analysis section of the Comprehensive Annual Financial Report reviews the Dis-trict’s financial activity during the fiscal years ended Au-gust 31, 2011 and 2010. In compliance with GASB 34, this discussion focuses on currently known facts, deci-sions, and conditions that have an impact on financial activities of the District and an analysis of key financial data in order to assist in the interpretation of the financial statements presented in this annual report and the year-to-year changes in District’s revenues, expenses, and finan-cial position. It should be read in conjunction with the transmittal letter (pages iii-viii), the District’s basic finan-cial statements (pages 10-13) and the notes to the finan-cial statements (pages 14-32). Responsibility for the com-pleteness and fairness of the information in this section rests with the District management. USING THIS ANNUAL REPORT The financial statement presentation was mandated by Governmental Accounting Standards Board (GASB) State-ment No. 34 and implemented by the District in fiscal 2002. For financial statement purposes, the District is considered a special-purpose government engaged only in business-type activities. Accordingly, the financial state-ments of the District are presented using the economic measurement focus and the accrual basis of accounting. Under the accrual basis of accounting, revenues are recog-nized when earned, and expenses are recorded when an obligation has been incurred. All significant intra-agency transactions have been eliminated. The Statement of Net Assets reports all that the District owns (assets) and owes (liabilities). Net Assets, the differ-ence between assets and liabilities, is subdivided into three categories to indicate limitations on their use. Net assets invested in capital assets net of related debt are not available for use, since these are the resources that have been invested in the capital assets such as land, buildings and improvements, and equipment of the Dis-trict. Restricted net assets are not accessible for general use because use of these assets is subject to a third-party restriction. Any remaining net assets are classified as un-restricted and are available for general use as directed by the management of the District. The Statement of Revenues, Expenses, and Changes in Net Assets presents the revenues earned and the ex-penses incurred resulting from District operations during the fiscal year. Revenues and expenses are reported as either operating or non-operating in accordance with GASB 34 as interpreted by the Texas Higher Education Coordi-nating Board. Operating revenues are intended to reflect the amounts received from customers in exchange for ser-vices provided by the District. Operating expenses are the costs incurred to provide District services to customers. A further discussion of the reporting and accounting policies

of the District may be found in Note 2 to the financial statements, pages 14-17. The Statement of Cash Flows presents information related to cash inflows and outflows summarized by operating, capital and non-capital financing and investing activities. It provides relevant information when evaluating the finan-cial viability of the District during the fiscal years ended August 31, 2011 and 2010. The statement can assist users in assessing the District’s ability to meet financial obligations as they mature and the need for external fi-nancing. FISCAL YEAR 2011 FINANCIAL HIGHLIGHTS ● In the fiscal year ended August 31, 2011, total District

revenues exceeded total expenses by $53.4 million as a result of careful budgeting, prudent fiscal manage-ment and conservation of resources.

● Current investments increased by $0.4 million to

$87.8 million, while long-term investments decreased by $12.0 million to $108.7 million at year-end 2011.

● During the fiscal year, the District expended $55.8

million on capital improvements of existing properties and $46.2 million on construction-in-progress primar-ily on the Trinity River East Campus, which was sub-stantially completed during the year.

STATEMENT OF NET ASSETS The Statement of Net Assets includes all assets and liabili-ties. Over time, increases or decreases in net assets (the difference between assets and liabilities) is one indicator of the improvement or erosion of the District’s financial health when considered with non-financial facts such as enrollment levels, the condition of facilities, etc. FISCAL YEAR 2011 COMPARED TO 2010 Total assets increased by $38.3 million from $969.9 million at August 31, 2010, to $1.01 billion on August 31, 2011. An increase in capital assets accounts for this increase. Current assets consist mainly of cash, short-term invest-ments, and receivables. Cash and short-term investments are maintained at levels necessary to cover current liabili-ties as they come due and to ensure adequate liquidity as funds are needed for expenditures associated with build-ing and expansion projects. Receivables are from stu-dents, property taxes, and federal grants and contracts. Current assets increased by $6.9 million to $111.1 million as of August 31, 2011. This increase is primarily attribut-able to an increase of $4.0 million in receivables. Non-current assets of $897.1 million on August 31, 2011, increased by 3.6 percent or $31.4 million from $865.7

4

million on August 31, 2010. This increase is mostly due to an increase in capital assets. The majority of the capital asset value is in property and equipment, with additional construction continually ongoing. Property, plant and equipment, net of depreciation, increased by $43.5 million compared to year end 2010. This increase, net of current year depreciation of $20.7 million, reflects spending on various ongoing capital improvement projects. At year-end 2011, current assets were 11.0 percent of total assets as compared with 10.7 percent in the prior year; long-term investments decreased from 12.4 percent to 10.8 percent of total assets over the prior year, and capital assets increased to 78.2 percent of total assets from 76.8 percent at year-end 2010. The trends for long-term investments and capital assets will fluctuate with the spending schedule in future years based on completion of the Trinity River East Campus and other construction and renovation projects. Total liabilities decreased $15.0 million year-to-year, from $99.3 million at August 31, 2010, to $84.3 million at Au-gust 31, 2011. Current liabilities decreased $7.0 million and non-current liabilities decreased $8.0 million. Current liabilities of $57.5 million were comprised of accounts payable, accrued liabilities, accrued employee benefits, deferred revenue, and the current portion of our general obligation bonds. Accounts payable and accrued ex-penses for goods and services received prior to the end of the fiscal year decreased by $2.6 million. The current por-tion of the District’s long-term debt at fiscal year-end of $7.3 million was increased by $0.4 million over the fiscal 2010 amount. (See Note 6, pages 20-21, for additional information regarding the bond indebtedness) Non-current liabilities primarily consist of the portion of our general obligation bonds that have a due date beyond the

next fiscal year. Total non-current liabilities were $26.8 million at August 31, 2011 versus $34.8 million at August 31, 2010. Net assets (total assets less total liabilities) increased by $53.4 million to $923.9 million, an increase of 6.1 per-cent from fiscal 2010 to 2011. Eighty-two percent of net assets, $757.6 million, reflected the District’s substantial investment in capital assets such as property, buildings, and equipment. Restricted net assets such as grants from third-party agencies with expenditure restrictions, student loan funds, or assets designated for debt service repre-sented an additional 0.7 percent of net assets. The re-maining unrestricted net assets may be used for educa-tional or general operations of the District. Unrestricted net assets increased by $2.4 million to 17.3 percent of net assets. During fiscal year 2011, the fund balance desig-nated for future capital outlay increased by $0.5 million to $25.8 million. The portion of net assets committed to capital assets is expected to increase with the finish-out construction of the Trinity River East Campus and other ongoing improvements district wide. FISCAL YEAR 2010 COMPARED TO 2009 Total assets increased by $65.4 million from $904.5 million at August 31, 2009, to $969.9 million on August 31, 2010. An increase in long-term investments and capi-tal assets accounts for this increase. Non-current assets of $865.7 million on August 31, 2010, increased by 21.5 percent or $152.9 million from $712.8 million on August 31, 2009. This increase is mostly due to an increase in long-term investments and capital assets. Long-term investments increased $90.3 million from year-end 2009. The majority of the capital asset value is in property and equipment, with additional construction con-tinually ongoing. Property, plant and equipment, net of depreciation, increased by $62.6 million compared to year end 2009. This increase, net of current year depreciation of $17.3 million, reflects spending on various ongoing capital improvement projects. At year-end 2010, current assets were 10.7 percent of total assets as compared with 21.2 percent in the prior year; long-term investments increased from 3.4 percent to 12.4 percent of total assets over the prior year, and capital assets increased to 76.8 percent of total assets from 75.4 percent at year-end 2009. Total liabilities decreased $13.0 million year-to-year, from $112.3 million at August 31, 2009, to $99.3 million at August 31, 2010. Current liabilities decreased $0.4 mil-lion and non-current liabilities decreased $12.6 million. Current liabilities of $64.5 million were comprised of ac-counts payable, accrued liabilities, accrued employee benefits, deferred revenue, and the current portion of our general obligation bonds. Accounts payable and accrued

CONDENSED STATEMENT OF NET ASSETS

Years Ended August 31 (Dollars in millions) 2011 2010

2010-11 Change 2009

2009-10 Change

Assets

Current Assets $111.1 $104.2 $6.9 $191.7 ($87.5)Non-Current Assets:

Long-Term Investments 108.7 120.7 (12.0) 30.4 $90.3Capital Assets, net 788.2 744.7 43.5 682.1 $62.6Other 0.2 0.3 (0.1) 0.3 $0.0

Total Assets 1,008.2 969.9 38.3 904.5 65.4

Liabilities

Current Liabilities $57.5 $64.5 ($7.0) $64.9 ($0.4)Non-Current Liabilities 26.8 34.8 (8.0) 47.4 ($12.6)Total Liabilities 84.3 99.3 (15.0) 112.3 (13.0)

Net Assets

Invested in Capital Assets,net of related debt 757.6 707.3 50.3 638.2 69.1

Restricted 6.3 5.6 0.7 5.6 0.0Unrestricted 160.0 157.6 2.4 148.3 9.3Total Net Assets 923.9 870.5 53.4 792.1 78.4

5

expenses for goods and services received prior to the end of the fiscal year decreased by $2.7 million. The current portion of the District’s long-term debt at fiscal year-end of $6.9 million was increased by $0.5 million over the fiscal 2009 amount. (See Note 6, pages 20-21, for additional information regarding the bond indebtedness) Non-current liabilities primarily consist of the portion of our general obligation bonds that have a due date beyond the next fiscal year. Total non-current liabilities were $34.8 million at August 31, 2010 versus $47.4 million at August 31, 2009. Net assets (total assets less total liabilities) increased by $78.4 million to $870.5 million, an increase of 9.9 per-cent from fiscal 2009 to 2010. Eighty-one percent of net assets, $707.3 million, reflected the District’s substantial investment in capital assets such as property, buildings, and equipment. Restricted net assets such as endowment gifts with specific restrictions, grants from third-party agen-cies with expenditure restrictions, student loan funds, or assets designated for debt service represented an addi-tional 0.6 percent of net assets. The remaining unre-stricted net assets may be used for educational or general operations of the District. Unrestricted net assets in-creased by $9.3 million to 18.1 percent of net assets. Dur-ing fiscal year 2010, the fund balance designated for fu-ture capital outlay increased by $2.1 million to $25.3 mil-lion. STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS The Statement of Revenues, Expenses and Changes in Net Assets presents the revenues earned and the expenses incurred during the year. Activities are reported as either operating or non-operating. Operating revenues include activities with characteristics of exchange transactions

such as: student tuition and fees, net of scholarship dis-counts and allowances; sales and services of auxiliary en-terprises; some federal, state, and local grants and con-tracts; and interest on institutional student loans. Non-operating revenues include activities that have the charac-teristics of non-exchange transactions such as ad valorem taxes, state appropriations, other federal grants and in-vestment income. Depreciation on capital assets is in-cluded in operating expenses. Since state appropriations and county tax revenue are a significant portion of mainte-nance and operations funding, classification of this reve-nue as non-operating will usually result in an operating deficit, as it does for TCCD. FISCAL YEAR 2011 COMPARED TO 2010 District operating revenue of $71.6 million, derived pre-dominantly from “tuition and fees”, increased by $6.3 mil-lion, or 9.7 percent, from fiscal 2010. Tuition and fees account for the majority of operating revenue, 67.0 per-cent. The current year increase in revenue was primarily attributable to an increase in tuition revenue resulting from an increase in enrollment. State appropriations to the Tarrant County College District, as to all Texas public colleges and universities, are set during biennial sessions of the Texas Legislature. The level of funding for each biennium is derived from enroll-ment during a “base year”– the total number of contact hours amassed during a period beginning the summer preceding the legislative session and ending with the spring semester during which the appropriations bill is passed. Texas community colleges have attempted for decades, without success, to achieve “full formula fund-ing”. The District, together with the other community col-leges in Texas, are being asked to do more with less. As the State resources allocated to community colleges de-cline, the District must look more and more to local tax

COMPARATIVE COMPOSITION OF ASSETS, LIABILITIES, AND NET ASSETS Years Ended August 31 (Dollars in Millions)

ASSETS LIABILITIES NET ASSETS

$111 $104

$192

$109 $121

$30

$788 $745

$682

$0.2 $0.3 $0.3 $0

$100

$200

$300

$400

$500

$600

$700

$800

$900

2011 2010 2009

Current Assets LT Investments Capital Assets Other

$58

$65 $65

$27

$35

$47

$0

$10

$20

$30

$40

$50

$60

$70

2011 2010 2009

Current Liabilities Non‐Current Liabilities

$758 $707

$638

$6 $6 $6

$160 $158 $148

$0

$100

$200

$300

$400

$500

$600

$700

$800

2011 2010 2009

Invested in Capital Assets Restricted Unrestricted

6

revenues and tuition and fees as a source of revenue to provide educational services for the community. State appropriations accounted for 35 percent of total (operating and non-operating) revenue in fiscal 1998, and has declined to 16.9 percent of revenue for the current fiscal year. In contrast, local property taxes accounted for 21.0 percent of total revenue in fiscal 1998 and 41.9 per-cent of revenue in the year ended August 31, 2011. Tui-tion and fees of $48.0 million and $45.5 million in fiscal 2011 and 2010 respectively, decreased as a percentage of total revenue to 12.3 percent in 2011 from 12.5 per-cent for 2010. For the fiscal years 1996 through 2001 the District main-tained a policy of increasing the in-district tuition rate by $2 per hour per year. After 2001, in response to a call from the Texas Higher Education Coordinating Board to hold the line on tuition increases as part of the “Closing the Gaps Plan” for higher education, the amount of tuition increase at TCCD was reduced to $1 per hour per year. Beginning in spring 2004, state universities in Texas were able to set their own levels of tuition for the first time. Subsequently some state universities imposed substantial tuition increases. As a result more students will likely seek

to take advantage of the affordable costs at TCCD. Sup-port for this growth will have to be funded by the two local sources of revenue – tuition and taxes. Planning in that regard, the Board approved a three-year tuition increase plan of $2 per year beginning with the 2005 year. Follow-ing this three-year plan, In-County tuition has not been raised. However, Out-of-district tuition increased by $10 to $73 per hour and the Non-resident tuition increased by $15 to $165 per hour in the spring of 2008. Since then, there were no increases until this coming Spring 2012, which will have a $2 per hour increase to In-County tuition, bringing tuition to $52. Out of County tuition will increase by $3 per hour to $76, and Non-Resident tuition will in-crease by $6 per hour to $171. Grants and contracts include restricted revenues made available by government agencies as well as private agen-cies. Grant funding is recognized as revenue at the point when all eligibility requirements imposed by the provider have been met. This source of revenue was approximately 25.2 percent of total revenues, an increase from $69.3 million in fiscal 2010 to $98.1 million in fiscal 2011. Auxiliary enterprises had revenues in excess of expenses of $1.2 million for fiscal 2011. Auxiliary enterprises con-sist of various enterprise entities (formerly primarily book-stores) that exist predominantly to furnish goods or ser-vices to students, faculty, staff or the general public and charge a fee directly related to the cost of those goods or services. These enterprises are intended to be self-supporting. During fiscal 2011, the District recorded no change in sales revenues from operations at our auxiliary enterprises. Operating expenses increased by $49.2 million to $335.7 million, an increase of 17.2 percent from fiscal 2010 to 2011. Compared to fiscal 2010, salaries and wages in-creased $8.6 million to $135.2 million, staff benefits in-creased by $10.0 million to $44.3 million, and other ex-penses increased by $26.9 million. An analysis of operating expenses by function indicates the most significant year-to-year expense to be in instruc-tion (increased 19.1 percent to $114.2 million) and schol-arships (increased 41.7 percent to $78.8 million). The increase in instruction expense is primarily due to the op-eration of the Trinity River Campus. The increase in schol-arship expenses is primarily due to an increase in funds available to help students meet their educational needs. Non-operating revenue increased from $299.6 million to $317.5 million for the fiscal years ended August 31, 2010 and 2011, respectively. Non-operating revenue consists predominantly of ad-valorem taxes of $163.3 million, which decreased by $7.7 million or 4.5 percent; and state appropriations of $65.9 million, which decreased by $1.2 million or 1.8 percent. In 1998, the Board of Trustees of

CONDENSED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS


2010-11 Change 2009

2009-10 Change

Operating RevenueTuition & Fees $48.0 $45.5 $2.5 $41.4 $4.1Grants & Contracts 13.3 9.4 3.9 9.6 (0.2)Auxiliary Enterprises 3.4 3.4 0.0 3.1 0.3Other Operating Revenue 6.9 7.0 (0.1) 7.1 (0.1)Total Operating Revenue 71.6 65.3 6.3 61.2 4.1

Operating ExpensesInstruction 114.2 95.9 18.3 83.4 12.5Public Service 7.0 6.7 0.3 6.4 0.3Academic Support 21.8 16.9 4.9 14.0 2.9Student Services 25.3 20.9 4.4 17.9 3.0Institutional Support 30.8 31.2 (0.4) 26.0 5.2Operation & Maint. of Plant 34.9 39.9 (5.0) 38.2 1.7Scholarships & Fellowships 78.8 55.6 23.2 35.1 20.5Auxiliary Enterprises 2.2 2.1 0.1 1.6 0.5Depreciation 20.7 17.3 3.4 12.1 5.2Total Operating Expenses 335.7 286.5 49.2 234.7 51.8

Operating Loss (264.1) (221.2) (42.9) (173.5) (47.7)

Non-Operating Revenue (Expense)State Appropriations 65.9 67.1 (1.2) 60.3 6.8Ad Valorem Tax 163.3 171.0 (7.7) 168.5 2.5Grants & Contracts 84.8 59.9 24.9 35.6 24.3Investment & Other Income 3.8 2.1 1.7 4.4 (2.3)Non-Operating Expense (0.3) (0.5) 0.2 (1.8) 1.3Total Non-Operating Revenue 317.5 299.6 17.9 267.0 32.6Income before Other Revenue,

(Expense), Gains & (Losses) 53.4 78.4 (25.0) 93.5 (15.1)Other Revenue-Gifts,

Endowment Contributions 0.0 0.0 0.0 0.0 0.0Increase in Net Assets $53.4 $78.4 ($25.0) $93.5 ($15.1)Net AssetsNet Assets-Year Beginning 870.5 792.1 78.4 698.6 93.5Total Revenue 389.4 365.4 24.0 330.0 35.4Total Expenses (336.0) (287.0) (49.0) (236.5) (50.5)Net Assets-Year End $923.9 $870.5 $53.4 $792.1 $78.4

7

cent. The current year increase in revenue was primarily attributable to an increase in tuition revenue resulting from an increase in enrollment. State appropriations accounted for 35 percent of total (operating and non-operating) revenue in fiscal 1998, and has declined to 18.4 percent of revenue for the current fiscal year. In contrast, local property taxes accounted for 21 percent of total revenue in fiscal 1998 and 46.8 per-cent of revenue in the year ended August 31, 2010. Tui-tion and fees of $45.5 million and $41.4 million in fiscal 2010 and 2009 respectively, decreased as a percentage of total revenue to 12.5 percent in 2010 from 12.6 per-cent for 2009. Grants and contracts as a source of revenue was approxi-mately 19.0 percent of total revenues, an increase from $45.2 million in fiscal 2009 to $69.3 million in fiscal 2010. Auxiliary enterprises had revenues in excess of expenses of $1.3 million for fiscal 2010. During fiscal 2010, the District recorded a increase in sales revenues of $0.3 mil-lion from operations at our auxiliary enterprises. Operating expenses increased by $51.8 million to $286.5 million, an increase of 22.1 percent from fiscal 2009 to 2010. Compared to fiscal 2009, salaries and wages in-creased $15.6 million to $126.6 million, staff benefits increased by $5.2 million to $34.3 million, and other ex-penses increased by $25.8 million.

the Tarrant County College District, acting on the chancel-lor’s recommendation, altered the traditional approach of relying on bonded indebtedness for new construction, re-pair and renovation, and major equipment purchases. Instead, the District elected to fund such expenditures from maintenance and operations tax revenue. In August 2002, the Board of Trustees of the District set the tax rate at 13.938 cents per $100 valuation. Since that time the Board of Trustees lowered the tax rate to 13.767 and 13.764 for 2010 and 2011, respectively and raised it to 14.897 for 2012. Fiscal year 2011 investment and other income increased by $1.7 million to $3.8 million compared to a $2.3 million decrease for the year ended August 31, 2010. The cur-rent year increase is partially due to a tax refund paid un-der protest in prior years. (See Note 4, page 19, for addi-tional information on investment earnings and portfolio market adjustments.) Total revenue for fiscal 2011 increased $24.0 million to $389.4 million from $365.4 million for fiscal 2010. This 6.6 percent increase in total revenue is largely the result of an increase in grants and contracts. Total expenses for fiscal 2011 increased $49.0 million to $336.0 million from $287.0 million for fiscal 2010. This 17.1 percent increase in total expenses is mostly attributable to addi-tional instruction and scholarship expenses in fiscal year 2011. FISCAL YEAR 2010 COMPARED TO 2009 District operating revenue of $65.3 million, derived pre-dominantly from “tuition and fees”, increased by $4.1 mil-lion, or 6.7 percent, from fiscal 2009. Tuition and fees account for the majority of operating revenue, 69.7 per-

TOTAL REVENUE BY SOURCE Fiscal Year 2010-11 Total $ 389,490,234

REVENUE BY SOURCE (Dollars in millions)

$0

$20

$40

$60

$80

$100

$120

$140

$160

$180

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Ad Valorem Tax State Appropriations Tuition & Fees

Other Grants & Contracts

Investment & Other Income

2.8%

State Appropriations

16.9%

Tuition and Fees12.3%

Grants and Contracts25.2%

Auxiliary Enterprises

0.9%

Ad Valorem Tax41.9%

8

10.7 percent increase in total revenue is largely the result of an increase in grants and contracts. Total expenses for fiscal 2010 increased $50.5 million to $287.0 million from $236.5 million for fiscal 2009. This 21.4 percent increase in total expenses is mostly attributable to addi-tional institutional support and scholarship expenses in fiscal year 2010. STATEMENT OF CASH FLOWS Cash receipts from operating activities are from tuition and fees, grants and contracts, and auxiliary enterprise activities. The primary cash outlays for operating activities are payments to or on behalf of employees and to vendors. As is typical for colleges, universities, and many other pub-lic sector entities using the GASB financial model, TCCD’s cash flow from operating activities was a deficit. The defi-cit was $239.0 million for fiscal 2011, $191.7 million for fiscal 2010 and $148.1 million for fiscal 2009. This is a reflection of the classification (mandated by GASB State-ment No. 9) of ad-valorem taxes, state appropriations, and Title IV grant revenue as non-operating activities, thus separating those revenues from the operating activities calculation. FISCAL YEAR 2011 COMPARED TO 2010 Cash generated from non-capital financing activities, pre-dominantly local property taxes, was $298.4 million, a year-to-year increase of $18.5 million or 6.6 percent. Cash used for capital and related financing activities was $71.4 million in fiscal 2011, a decrease of $15.3 million compared to 2010. Cash provided by investing activities of $13.2 million reports the purchase and maturity of in-vestments and interest income from investments. This was $13.7 million more than cash used by investing activi-ties for fiscal 2010 of $0.5 million, primarily due to a de-crease in investment activity. Cash and cash equivalents

An analysis of operating expenses by function indicates the most significant year-to-year expense changes to be in scholarships (increased 58.4 percent) and depreciation (increased 43.0 percent). The increase in scholarships expenses is primarily due to an increase in funds available to help students meet their educational needs. Non-operating revenue increased from $267.0 million to $299.6 million for the fiscal years ended August 31, 2009 and 2010, respectively. Non-operating revenue consists predominantly of ad-valorem taxes of $171.0 million, which increased by $2.5 million or 1.5 percent; and state appropriations of $67.1 million, which increased by $6.8 million or 11.3 percent. Fiscal year 2010 investment and other income decreased by $2.3 million to $2.1 million compared to a $13.8 mil-lion decrease for the year ended August 31, 2009. This decrease is partially due to the economic recession which led to a reduction in interest rates. (See Note 4, page 19, for additional information on investment earnings and portfolio market adjustments.) Total revenue for fiscal 2010 increased $35.4 million to $365.4 million from $330.0 million for fiscal 2009. This

OPERATING EXPENSES BY NATURAL CLASSIFICATION

OPERATING EXPENSES BY FUNCTION Years Ended August 31


2010-11 Change 2009

2009-10 Change

Salary & Wages $135.2 $126.6 $8.6 $111.0 $15.6Staff Benefits 44.3 34.3 10.0 29.1 5.2Other Expenses 135.5 108.3 27.2 82.5 25.8

Depreciation 20.7 17.3 3.4 12.1 5.2

Total Operating Expenses 335.7 286.5 49.2 234.7 51.8

33.5%

2.3%5.9%

7.3%10.9%

13.9%

19.5%

0.7%

6.0%

2010

Instruction Public Service Academic Support

Student Services Institutional Support Operation & Maintenance of Plant

Scholarships & Fellowships Auxiliary Enterprises Depreciation

34.0%

2.1%

6.5%7.5%9.2%

10.4%

23.4%

0.7%

6.2%

2011

35.5%

2.7%6.0%

7.6%11.1%

16.3%

14.9%

0.7%

5.2%

2009

9

increased by $1.2 million from $2.2 million at August 31, 2010 to $3.4 million at August 31, 2011. FISCAL YEAR 2010 COMPARED TO 2009 Cash generated from non-capital financing activities, pre-dominantly local property taxes, was $279.9 million, a year-to-year increase of $32.1 million or 13.0 percent. Cash used for capital and related financing activities was $86.7 million in fiscal 2010, a decrease of $16.3 million compared to 2009. Cash used by investing activities of $0.5 million reports the purchase and maturity of invest-ments and interest income from investments. This was $1.7 million less than cash provided by investing activities for fiscal 2009 of $1.2 million, primarily due to a decrease in investment earnings. Cash and cash equivalents in-creased by $1.0 million from $1.2 million at August 31, 2009 to $2.2 million at August 31, 2010. CAPITAL ASSET INFORMATION FISCAL YEAR 2011 COMPARED TO 2010 As of August 31, 2011, the District had a total of $788.2 million in capital assets, net of accumulated depreciation. During fiscal 2011, there was a net increase in capital assets of $43.5 million. Construction-in-progress was $6.2 million at August 31, 2011. During the year, over $247.0 million of construction-in-progress jobs were completed, including $192.7 million for the Trinity River East Campus, $7.4 million for the NE NBSS renovation, $32.8 million for the SE New Academic Wing and $1.8 million for district wide roofing. (See Note 18, pages 29-30, to the financial statements for more detailed information regarding capital assets.) As previously disclosed, the District purchased the Ra-dioShack complex in downtown Fort Worth, Texas to use as the downtown campus. With the purchase of the Ra-dioShack complex, the construction on the Bluff of the Trinity River has become an extension of the Trinity River Campus, called the Trinity River East Campus. It holds TCCD’s allied health programs and opened for Fall 2011 classes. FISCAL YEAR 2010 COMPARED TO 2009 As of August 31, 2010, the District had a total of $744.7 million in capital assets, net of accumulated depreciation. During fiscal 2010, there was a net increase in capital assets of $62.6 million. Construction-in-progress of $207.3 million at August 31, 2010 includes $36.5 million of additional costs incurred for the Trinity River East Cam-pus. Facility improvements of $51.1 million included com-pleted district-wide signage ($1.3 million), Tarrant County College Opportunity Center renovation ($8.9 million), Trin-ity River East Fork and Trinity building renovation ($17.7 million), and the Trinity River Math and Science lab build-ing renovation ($12.5 million). (See Note 18, pages 29-30,

to the financial statements for more detailed information regarding capital assets.) LONG-TERM DEBT INFORMATION FISCAL YEAR 2011 COMPARED TO 2010 The District had outstanding general obligation bonds of $30.6 million on August 31, 2011, versus $37.4 million a year earlier. The current portion was $7.3 million and the long-term portion was $23.3 million. For the year ended August 31, 2011, debt service payments were $8.4 mil-lion. Net reduction of bond principal was $6.7 million, and interest payments on capital debt totaled $1.7 million. (Refer to Note 6, pages 20-21, to the financial statements for additional information on long-term debt.) FISCAL YEAR 2010 COMPARED TO 2009 The District had outstanding general obligation bonds of $37.4 million on August 31, 2010, versus $43.8 million a year earlier. The current portion was $6.8 million and the long-term portion was $30.6 million. For the year ended August 31, 2010, debt service payments were $8.3 mil-lion. Net reduction of bond principal was $6.3 million, and interest payments on capital debt totaled $2.0 million. (Refer to Note 6, pages 20-21, to the financial statements for additional information on long-term debt.) DISTRICT FINANCIAL POSITION District management would like to report that Tarrant County College District completes fiscal 2011 with an ex-ceptionally strong financial position. In addition, the budget adopted by the Board of Trustees for fiscal 2012 indicates that budgeted revenue coupled with unrestricted net assets will be sufficient for operating needs and will allow the District to meet anticipated capital outlay re-quirements.

CONDENSED STATEMENT OF CASH FLOWS


2010-11 Change 2009

2009-10 Change

Cash & cash equivalents provided/(used) by:

Operating Activities (239.0)$ (191.7)$ (47.3)$ (148.1)$ (43.6)$ Non-Capital Financing Activities 298.4 279.9 18.5 247.8 32.1Capital & Related Financing (71.4) (86.7) 15.3 (103.0) 16.3Investing Activities 13.2 (0.5) 13.7 1.2 (1.7)

Cash & Cash Equivalents Increase

1.2 1.0 0.2 (2.1) 3.1

Cash & Cash Equivalents Sept. 1 2.2 1.2 1.0 3.3 (2.1)

Cash & Cash Equivalents Aug. 31,

3.4 2.2 1.2 1.2 1.0

2011 2010

ASSETSCurrent assets

Cash and cash equivalents 3,423,411$ 2,224,562$ Investments 84,753,189 83,697,496Restricted investments 3,055,819 3,747,709Accounts receivable, less allowance

for doubtful accounts of $4,183,877 and $2,831,689 in 2011 and 2010, respectively 7,496,455 4,166,465

Taxes receivable, less allowance for doubtful accounts of $1,598,033 and $1,416,246 in 2011 and 2010, respectively 5,206,393 5,851,926

Interest receivable 348,108 316,220Federal grants and contracts receivable 2,792,230 1,646,326State and local grants and contracts receivable 1,132,224 1,062,199Prepaid expenses and other current assets 2,918,170 1,505,052

Total current assets 111,125,999 104,217,955

Non-current assetsInvestments 108,645,440 120,651,400Bond issuance costs, net of related amortization of $658,640 and $595,995 in 2011 and 2010, respectively 216,940 279,585Capital assets, net

Non-depreciable capital assets 81,685,446 282,749,881Depreciable capital assets 706,516,057 461,994,416

Total non-current assets 897,063,883 865,675,282

Total assets 1,008,189,882 969,893,237

LIABILITIESCurrent liabilities

Accounts payable 13,244,814 14,925,246Accrued liabilities 9,309,152 10,209,483Accrued compensated absences 4,167,582 4,579,377Deposits held for others 252,022 221,682Deferred revenue 23,308,419 27,714,526Current portion of bonds payable 7,263,814 6,856,543

Total current liabilities 57,545,803 64,506,857

Non-current liabilitiesBonds payable 23,324,226 30,588,040Accrued compensated absences 3,367,404 4,078,454Workers' compensation payable 65,495 176,600

Total non-current liabilities 26,757,125 34,843,094

Total liabilities 84,302,928 99,349,951

The Notes to Financial Statements are an integral part of these statements.

TARRANT COUNTY COLLEGE DISTRICTEXHIBIT 1

STATEMENTS OF NET ASSETSAUGUST 31, 2011 AND 2010

10

2011 2010NET ASSETS

Invested in capital assets, net of related debt 757,613,463$ 707,299,717$ Restricted for:

ExpendableStudent aid 2,900,925 1,378,697 Loans 138,624 137,759 Debt service 3,203,452 4,084,734

Total restricted 6,243,001 5,601,190

Unrestricted 160,030,490 157,642,379

Total net assets (Schedule D) 923,886,954$ 870,543,286$


(continued)


STATEMENTS OF NET ASSETSAUGUST 31, 2011 AND 2010

11

2011 2010REVENUES

Operating revenuesTuition and fees, net of discounts of $12,712,717 and $11,059,183 in 2011 and 2010, respectively 47,961,072$ 45,507,326$ Federal grants and contracts 3,738,898 2,662,284 State grants and contracts 6,403,470 4,436,087 Non-governmental grants and contracts 3,123,262 2,245,408 Auxiliary enterprises 3,453,670 3,381,510 Other operating revenue 6,922,636 7,036,611

Total operating revenue (Schedule A) 71,603,008 65,269,226

EXPENSESOperating expenses

Instruction 114,166,378 95,921,420 Public service 7,001,458 6,739,303 Academic support 21,847,574 16,917,975 Student services 25,282,806 20,840,918 Institutional support 30,797,449 31,207,465 Operation and maintenance of plant 34,941,445 39,900,473 Scholarships and fellowships 78,792,547 55,583,034 Auxiliary enterprises 2,262,986 2,114,115 Depreciation 20,670,066 17,268,778

Total operating expenses (Schedule B) 335,762,709 286,493,481

Operating loss (264,159,701) (221,224,255)

NON-OPERATING REVENUE (EXPENSES)State appropriations 65,923,473 67,133,335 Maintenance ad-valorem taxes 155,795,642 163,029,904 Debt service ad-valorem taxes 7,543,745 7,959,220 Federal grants and contracts 84,809,753 59,862,557 Gifts 750 5,250 Investment income 1,600,511 1,404,780 Other income 2,213,352 702,665 Transfers to Tarrant County College Foundation (201,997) Loss on disposal of assets (383,857) (302,517)

Total non-operating revenue (Schedule C) 317,503,369 299,593,197 Income before other revenue 53,343,668 78,368,942

OTHER REVENUEAdditions to permanent endowments 26,223

Total other revenue 26,223 Increase in net assets (Schedule D) 53,343,668 78,395,165

NET ASSETS, BEGINNING OF YEAR 870,543,286 792,148,121

NET ASSETS, END OF YEAR 923,886,954$ 870,543,286$


YEARS ENDED AUGUST 31, 2011 AND 2010


STATEMENTS OF REVENUES, EXPENSESAND CHANGES IN NET ASSETS

12

2011 2010

CASH FLOWS FROM OPERATING ACTIVITIESReceipts from tuition and fees 45,985,307$ 45,630,998$ Receipts from grants and contracts 11,226,130 13,657,359 Payments to suppliers (180,819,322) (142,059,301) Payments to employees (122,262,395) (113,168,446) Receipts from auxiliary enterprise charges 3,303,670 3,231,510 Other operating receipts 3,530,148 989,116

Net cash used by operating activities (239,036,462) (191,718,764)

CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIESReceipts from gifts 750 31,473 Receipts from state appropriations 48,763,674 50,920,045 Receipts from non-operating federal revenue 85,628,832 58,416,835 Receipts from local property taxes 163,984,920 170,708,681 Payments to affiliated organization (201,997)

Net cash provided by non-capital financing activities 298,378,176 279,875,037

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIESPurchase of capital assets (64,511,129) (80,300,575) Payments on capital debt - principal (6,715,000) (6,290,000) Payments on capital debt - interest, net of interest capitalized 2011 of $1,502,154 and 2010 $1,857,618 (127,516) (86,411) Proceeds from sale of assets 41,619

Net cash used by capital and related financing activities (71,353,645) (86,635,367)

CASH FLOWS FROM INVESTING ACTIVITIESProceeds from sale and maturities of investments 558,000,000 568,500,000 Interest on investments 1,494,379 1,503,360 Purchase of investments (546,283,599) (570,519,766)

Net cash provided (used) by investing activities 13,210,780 (516,406)

Net increase in cash and cash equivalents 1,198,849 1,004,500

CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 2,224,562 1,220,062 CASH AND CASH EQUIVALENTS, END OF YEAR 3,423,411$ 2,224,562$

RECONCILIATION OF OPERATING LOSS TO

NET CASH USED BY OPERATING ACTIVITIESOperating loss (264,159,701)$ (221,224,255)$ Adjustments to reconcile operating loss to

net cash used by operating activities Depreciation 20,670,066 17,268,778 Amortization 62,645 62,645 Non-cash state appropriations 17,159,799 16,213,290 Other income 2,213,352 702,665 Change in operating assets and liabilities

Receivables (5,364,998) 1,821,372 Prepaid expenses (1,413,118) 9,811 Accounts payable and accrued liabilities (2,705,895) (2,898,744) Accrued compensated absences (1,122,845) 658,095 Deposits held for others 30,340 (48,141) Deferred revenue (4,406,107) (4,284,280)

Net cash used by operating activities (239,036,462)$ (191,718,764)$

SCHEDULE OF NON-CASH INVESTING ANDFINANCING ACTIVITIES

Change in fair value of investments 74,244$ 107,664$



STATEMENTS OF CASH FLOWSYEARS ENDED AUGUST 31, 2011 AND 2010

13

TARRANT COUNTY COLLEGE DISTRICT NOTES TO FINANCIAL STATEMENTS

14

NOTE 1. REPORTING ENTITY

The Tarrant County College District (the District) was established as a public junior college in an election held in Tarrant County, Texas on July 31, 1965. The two largest cities in Tarrant County are Fort Worth and Arlington. The District operates as a junior college district under the laws of the State of Texas and is considered to be a special purpose, primary government according to the definition in Government Accounting Standards Board (GASB) Statement No. 14. While the District receives funding from local, state and federal sources, and must comply with the spending, reporting and record keeping requirements of these entities, it is not a component unit of any other governmental entity. In addition, the District has considered all potential component units and no other entity meets the criteria for inclusion in the District’s reporting entity.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Report Guidelines

The significant accounting policies followed by the District in preparing these financial statements are in accordance with the Texas Higher Education Coordinating Board’s Annual Financial Reporting Requirements for Texas Public Community and Junior Colleges. The District applies all applicable GASB pronouncements and all applicable Financial Accounting Standards Board (FASB) statements and interpretations issued on or before November 30, 1989, unless they conflict or contradict GASB pronouncements. The District has elected not to apply FASB guidance issued subsequent to November 30, 1989, unless specifically adopted by the GASB. The District is reported as a special-purpose government engaged in business-type activities.

Tuition Discounting

Certain tuition amounts are required to be set aside for use as scholarships by qualifying students. This set aside amount, called the Texas Public Education Grant (TPEG), is shown with tuition and fee revenue amounts as a separate set aside amount (Texas Education Code §56.033). When the award for tuition is used by the student, the amount is recorded as a tuition discount. If the amount is disbursed directly to the student, the amount is recorded as a scholarship expense. Certain Title IV HEA Program funds are received by the District to pass through to students. These funds are initially received by the District and recorded as restricted revenue. When the student is awarded and uses these funds for tuition and fees, the amounts are recorded as revenue and a corresponding amount is recorded as a tuition discount. If the amount is disbursed directly to the student, the amount is recorded as a scholarship expense. The District awards tuition and fee scholarships from institutional funds to students who qualify. When these amounts are used for tuition and fees, the amounts are recorded as tuition and fee revenue and a corresponding amount is recorded as a tuition discount. If the amount is disbursed directly to the student, the amount is recorded as a scholarship expense.

Basis of Accounting

The financial statements of the District have been prepared using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the years for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. All significant internal activity has been eliminated.


15

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES- continued

Basis of Accounting – continued

Encumbrance accounting, under which purchase orders, contracts, and other commitments for expenditures of funds are recorded in order to reserve that portion of the applicable appropriation, is employed as an extension of formal budgetary integration. Under Texas law, appropriations lapse at August 31, and encumbrances outstanding at that time are to be either canceled or appropriately provided for in the subsequent year’s budget. Encumbrances outstanding as of August 31, 2011 of $27,460,400 have been provided for in the fiscal year 2012 budget.

Budgetary Data

Each community college in Texas is required by law to prepare an annual operating budget of anticipated revenues and expenditures for the fiscal year beginning September 1. The College’s Board of Trustees adopts the budget, which is prepared on the accrual basis of accounting. A copy of the approved budget and subsequent amendments must be filed with the Texas Higher Education Coordinating Board, Legislative Budget Board, Legislative Reference Library, and Governor’s Office of Budget and Planning by December 1.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash on hand, demand deposits and short term investments with original maturities of three months or less from the date of purchase.

Investments

In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and External Investment Pools, investments are reported at fair value. Fair values are based on published market rates. Short-term investments have an original maturity greater than three months but less than one year at the date of purchase. The governing board has designated public funds investment pools comprised of $87,809,008 and $87,445,205 at August 31, 2011 and 2010, respectively, to be short-term investments. Long-term investments have an original maturity of greater than one year at the date of purchase.

Capital Assets

Capital assets are recorded at cost at the date of acquisition, or fair value at the date of donation. For equipment, the District’s capitalization policy includes all items with a unit cost of $5,000 or more and an estimated useful life in excess of one year. Renovations to buildings, infrastructure and land improvements that significantly increase the value or extend the useful life of the structure are capitalized. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets’ lives are charged to operating expense in the year in which the expense is incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 50 years for buildings, 20 years for improvements, 10 years for furniture, machinery, vehicles and other equipment, 5 years for telecommunications and peripheral equipment, and 15 years for library books. Collections are not depreciated as they are deemed to have permanent value.

Accrued Compensated Absences

Employees’ compensated absences are accrued when earned. The liability and expense incurred are recorded at year-end as accrued compensated absences in the Statement of Net Assets and as a component of operating expenses in the Statement of Revenues, Expenses and Changes in Net Assets.


16

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES- continued

Estimates

The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

Deferred Revenues

Tuition and fees collected in advance and related to academic terms in the next fiscal year are recorded as deferred revenue. Contract revenues related to government grants and food services are recognized over the contract period. Contract payments received in advance are recorded as deferred revenue. Imputed lease income that relates to future periods is recorded as deferred revenue and recognized over the lease term.

Net Assets

The District’s net assets are classified as follows: Invested in capital assets, net of related debt – This represents the District’s total investment in capital assets, net of outstanding debt obligations related to those capital assets. To the extent debt has been incurred but not yet expended for capital assets, such amounts are not included as a component of invested in capital assets, net of related debt. Restricted net assets – nonexpendable – Nonexpendable restricted net assets consist of endowment and similar type funds in which donors or other outside sources have stipulated, as a condition of the gift instrument, that the principal is to be maintained inviolate and in perpetuity, and invested for the purpose of producing present and future income, which may be either expended or added to principal. The District had no nonexpendable restricted net assets as of August 31, 2011 or 2010. Restricted net assets – expendable – Restricted expendable net assets include resources in which the District is legally or contractually obligated to spend in accordance with restrictions imposed by external third parties. Unrestricted net assets – Unrestricted net assets represent resources to be used for transactions relating to the educational and general operations of the District, and may be used at the discretion of the governing board to meet current expenses for any purpose. These resources also include auxiliary enterprises, which are substantially self-supporting activities that provide services for students, faculty and staff. When an expense is incurred that can be paid using either restricted or unrestricted resources, the District’s policy is to first apply the expense towards restricted resources and then towards unrestricted resources.

Operating and Non-operating Revenue and Expense Policy

The District distinguishes operating revenues and expenses from non-operating items. The District reports as a business-type activity and as a single proprietary fund. Operating revenues and expenses generally result from providing services in connection with the District’s principal ongoing operations.

The principal operating revenues are tuition and related fees, grants and contracts, and operations of auxiliary enterprises. Operating expenses include the cost of sales and services, administrative expenses, and depreciation of capital assets. Non-operating revenues include activities that have the characteristics of non-exchange transactions, such as property taxes, state appropriations, gifts and contributions, and other revenue and expenses that are defined as non-operating by GASB 9, Reporting Cash Flows of Proprietary and Nonexpendable Trust Funds and Government Entities that use Proprietary Fund Accounting, and investment income. In accordance with GASB 24, Accounting and Financial Reporting for Certain Grants


17

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES- continued Operating and Non-operating Revenue and Expense Policy-continued

and Other Financial Assistance, the District records revenue received for federal Title IV grant programs (such as Pell grants) as non-operating revenue.

NOTE 3. AUTHORIZED INVESTMENTS

The Board of Trustees has adopted an investment policy regarding the investment of its funds as defined in the Public Funds Investment Act of 1995 (Chapter 2256, Texas Government Code). The investments of the District are in compliance with the Board’s investment policy. Authorized investments include: (1) obligations of the United States or its agencies and instrumentalities, (2) other obligations which are unconditionally guaranteed or insured by, or backed by the full faith and credit of the United States or their respective agencies and instrumentalities, (3) certificates of deposit, (4) fully collateralized repurchase agreements, (5) eligible investment pools rated no lower than AAA or AAA-m by a nationally recognized rating service, and (6) commercial paper notes rated no lower than A-1 or P-1 or an equivalent rating by a nationally recognized rating service.

NOTE 4. DEPOSITS AND INVESTMENTS

At August 31, 2011 and 2010 the carrying amounts of the District’s deposits were $3,400,911 and $2,201,562 and total bank balances equaled $7,521,624 and $4,271,858, respectively. Bank balances of $7,521,624 and $250,000 were covered by the Federal Depository Insurance Corp. (FDIC) as of August 31, 2011 and 2010, respectively. Under the FDIC’s Transaction Account Guarantee Program, through December 31, 2013, all non-interest bearing transaction accounts are fully guaranteed for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules. Thus, the District did not collateralize any amount of their cash account at August 31, 2011. At August 31, 2010, bank balances of $4,021,858 were covered by collateral pledged in a joint-custody security account with a market value of $6,043,727. The collateral account was held in the District’s name by the Federal Reserve Bank, which is an independent third-party custodian. Included in short-term investments at August 31, 2011 and 2010 were $47,611,229 and $42,742,014 invested in TexPool, a pool managed by the Treasurer of the State of Texas and $40,197,779 and $44,703,191 invested in TexStar, a pool managed by JP Morgan Fleming Asset Management (USA), Inc. The fair value of the District’s position in the pools is substantially the same as the value of the pools’ shares. The investments in which the pools may invest are subject to the same restrictions as the District. Cash and Cash Equivalents included on Exhibit 1 consist of the items reported below:

2011 2010

Bank Deposits Demand Deposits 3,400,911$ 2,201,562$ Cash and Cash Equivalents Petty Cash 22,500 23,000

Total Cash and Cash Equivalents 3,423,411$ 2,224,562$

Cash and Cash Equivalents


18

NOTE 4. DEPOSITS AND INVESTMENTS– continued

As of August 31, 2011 the District had the following investments and maturities:

Interest Rate Risk- In accordance with state law and District policy, the District concentrates its investment portfolio in shorter-term securities in order to limit interest rate risk. Unless matched to a specific cash flow, the District does not invest in securities maturing more than four years from the date of purchase.

Credit Risk- In accordance with state law and District policy, investments in investment pools are rated no lower than AAA or AAAm or at an equivalent rating of at least one nationally recognized rating service.

CreditInvestment Type Rating Fair Value Less than 1 1 to 2 2 to 4

U.S. Government Agencies AAA/AAAe 108,645,440$ 10,029,000$ 20,407,100$ 78,209,340$ TexPool AAAm 47,611,229 47,611,229 TexStar AAAm 40,197,779 40,197,779

196,454,448$ 97,838,008$ 20,407,100$ 78,209,340$

Investment Maturities (in Years)

Market Value Market ValueAugust 31, 2011 August 31, 2010

TexPool 47,611,229$ 42,742,014$ TexStar 40,197,779 44,703,191 Federal Agency Notes 108,645,440 120,651,400 Total 196,454,448 208,096,605 Cash and cash equivalents 3,423,411 2,224,562

199,877,859 210,321,167

Cash and cash equivalents (Exhibit 1) 3,423,411 2,224,562 Investments - current (Exhibit 1) 84,753,189 83,697,496 Restricted investments - current (Exhibit 1) 3,055,819 3,747,709 Investments - non-current (Exhibit 1) 108,645,440 120,651,400

199,877,859$ 210,321,167$

Reconciliation of Deposits and Investments to Exhibit 1


19

NOTE 4. DEPOSITS AND INVESTMENTS- continued Concentration of Credit Risk- The District’s investment policy does not place a limit on the amount the District may invest in any one issuer. As of August 31, 2011, more than 5% of the District’s investments are in TexPool (24.2%), TexStar (20.5%), FHLB (19.6%), FHLMC (15.3%), and FNMA (20.4%)

As of August 31, 2011 and 2010, restricted investments consist of the following:

Investment income for the years ended August 31, 2011 and 2010, consists of the following:

NOTE 5. DERIVATIVES

Derivatives are investment products which may be a security or contract which derives its value from another security, currency, commodity or index. During the years ended August 31, 2011 and 2010, the District did not invest in derivatives.

2011 2010

Funds held for others 252,022$ 172,691$

Funds restricted to student loans 100,154 96,157

Funds restricted to debt retirement 2,703,643 3,478,861

Total restricted investments 3,055,819$ 3,747,709$

2011 2010

Interest 1,526,267$ 1,297,116$ Net increase in fair value of investments 74,244 107,664

Total investment income 1,600,511$ 1,404,780$


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NOTE 6. BONDS PAYABLE

Bonds payable consist of bond principal, net of premiums, interest accreted on capital appreciation bonds and deferred refunding costs. The changes in bonds payable are as shown below:

Beginning Ending Due WithinBalance Additions Reductions Balance One Year

General obligation bonds, series 1992 90,000$ $ 90,000$ $ $General obligation refunding bonds, series 2001 11,200,000 2,310,000 8,890,000 2,630,000 General obligation refunding bonds, series 2004 18,060,000 3,890,000 14,170,000 4,085,000 General obligation refunding bonds, series 2005 13,435,000 13,435,000 Subtotal 42,785,000 6,290,000 36,495,000 6,715,000

Premium on bonds payable 1,756,665 321,556 1,435,109 321,556 Deferred refunding costs (707,514) (221,988) (485,526) (180,013) Total bonds payable 43,834,151$ $ 6,389,568$ 37,444,583$ 6,856,543$

Due within one year 6,856,543 Total long-term bonds payable 30,588,040$

2010

Beginning Ending Due WithinBalance Additions Reductions Balance One Year

General obligation refunding bonds, series 2001 8,890,000$ $ 2,630,000$ 6,260,000$ 2,780,000$ General obligation refunding bonds, series 2004 14,170,000 4,085,000 10,085,000 4,295,000 General obligation refunding bonds, series 2005 13,435,000 13,435,000 Subtotal 36,495,000 6,715,000 29,780,000 7,075,000

Premium on bonds payable 1,435,109 321,555 1,113,553 322,437 Deferred refunding costs (485,526) (180,012) (305,513) (133,623) Total bonds payable 37,444,583$ $ 6,856,543$ 30,588,040$ 7,263,814$

Due within one year 7,263,814 Total long-term bonds payable 23,324,226$

2011


21

NOTE 6. BONDS PAYABLE—continued Bonds payable are comprised of the following issues:

General obligation bonds, series 2001, issued to partially refund series 1994, 1995 and 1996. Issued July 15, 2001 for $18,765,000; all authorized bonds have been issued. The source of revenues for debt service is future property taxes.

General obligation bonds, series 2004, issued to partially refund series 1994, 1995 and 1996. Issued September 1, 2004 for $23,375,000; all authorized bonds have been issued. The source of revenues for debt service is future property taxes.

General obligation bonds, series 2005, issued to partially refund series 1994. Issued May 24, 2005 for $13,435,000; all authorized bonds have been issued. The source of revenues for debt service is future property taxes. Total

Bonds are due in annual installments varying from $280,000 to $4,610,000 with interest rates from 4.000% to 5.375% with the final installment due in 2015. The principal and interest requirements for the next four years and beyond are summarized below.

NOTE 7. EMPLOYEES’ RETIREMENT PLAN

The State of Texas has joint contributory plans for the District’s full-time employees. Full-time employees participate in either the Teacher Retirement System of Texas or the Optional Retirement Program.

2011 2010

6,260,000$ 8,890,000$

10,085,000 14,170,000

13,435,000 13,435,000

29,780,000$ 36,495,000$

Fiscal Year Principal Interest Total

2012 7,075,000$ 1,314,325$ 8,389,325$

2013 7,220,000 946,281 8,166,281

2014 7,550,000 574,425 8,124,425

2015 7,935,000 194,263 8,129,263

29,780,000$ 3,029,294$ 32,809,294$


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NOTE 7. EMPLOYEES’ RETIREMENT PLAN– continued

Teacher Retirement System of Texas Plan Description. The District contributes to the Teacher Retirement System of Texas (TRS), a cost-sharing multiple employer defined benefit pension plan. TRS administers retirement and disability annuities, and death and survivor benefits to employees and beneficiaries of employees of the public school systems of Texas. It operates primarily under the provisions of the Texas Constitution, Article XVI, Sec. 67, and Texas Government Code, Title 8, Subtitle C. TRS also administers proportional retirement benefits and service credit transfer under Texas Government Code, Title 8, chapters 803 and 805, respectively. The Texas state legislature has the authority to establish and amend benefit provisions of the pension plan and may, under certain circumstances, grant special authority to the TRS Board of Trustees. TRS issues a publicly available financial report that includes financial statements and required supplementary information for the defined benefit pension plan. That report may be obtained by writing to the TRS Communications Departments, 1000 Red River Street, Austin, Texas 78701, by calling the TRS Communications Department at 1-800-223-8778, or by downloading the report from the TRS Internet website, www.trs.state.tx.us, under the TRS Publications heading. Funding Policy. Contribution requirements are not actuarially determined but are established and amended by the Texas state legislature. The state funding policy is as follows: (1) The state constitution requires the legislature to establish a member contribution rate of not less than 6.0% of the member’s annual compensation and a state contribution rate of not less than 6.0% and not more than 10% of the aggregate annual compensation of all members of the system; (2) A state statute prohibits benefit improvements or contribution reductions if, as a result of a particular action, the time required to amortize TRS’ unfunded actuarial liabilities would be increased to a period that exceeds 31 years, or, if the amortization period already exceeds 31 years, the period would be increased by such action. State law provides for a member contribution rate of 6.4% for fiscal years 2011, 2010, and 2009, and a state contribution rate of 6.644% for fiscal year 2011 and 2010, and 6.58% for fiscal year 2009. In certain instances the reporting district is required to make all or a portion of the state’s 6.644% contribution, limited to 6.4% for the period of September through December 2009 and increased to 6.644% thereafter. State contributions to TRS made on behalf of the District’s employees for the years ended August 31, 2011, 2010 and 2009 were $4,666,084, $4,362,877, and $3,452,982, respectively. The on behalf payments are reflected in the accompanying financial statements as both revenues and expenses.

Optional Retirement Plan

Plan Description. The state has also established an optional retirement program for institutions of higher education. Participation in the Optional Retirement Program is in lieu of participation in the Teacher Retirement System. The optional retirement program provides for the purchase of annuity contracts and operates under the provisions of the Texas Constitution, Article XVI, Sec. 67, and Texas Government Code, Title 8, Subtitle C.

Funding Policy. Contribution requirements are not actuarially determined but are established and amended by the Texas state legislature. The percentages of participant salaries currently contributed by the state and each participant are 6.4% and 6.65%, respectively. The District contributes 2.1% for employees who were participating in the optional retirement program prior to September 1, 1995. Benefits fully vest after one year plus one day of employment. Because these are individual annuity contracts, the state has no additional or unfunded liability for this program.

State contributions to the Optional Retirement Plan made on behalf of the District for the years ended August 31, 2011, 2010 and 2009 were $2,032,745, $2,055,498, and $2,001,379, respectively. The on behalf payments are reflected in the accompanying financial statements as both revenue and expenses.

Total retirement expense paid by the State of $6,698,829 is reflected in the accompanying financial statements as both revenues and expenditures. Participants contributed $7,349,624 ($5,237,473 for the


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NOTE 7. EMPLOYEES’ RETIREMENT PLAN– continued Teacher Retirement Program and $2,112,151 for the Optional Retirement Program). The District contributed $390,093, $410,476, and $372,255 for the years ended August 31, 2011, 2010 and 2009, respectively, to the Optional Retirement Program to cover the 2.1% referenced above. Total payroll expense for fiscal years 2011 and 2010 was approximately $138,000,000 and $130,000,000, respectively. The total payroll of employees covered by the Teacher Retirement System was approximately $70,000,000 and $66,500,000, and the total payroll of employees covered by the Optional Retirement Program was approximately $31,800,000 and $32,100,000 for fiscal years 2011 and 2010, respectively. All employees of the District who are employed for ½ or more of the standard workload are eligible to participate in one of the above programs. Participants in the Teacher Retirement System are eligible for normal retirement at age 65 with 5 years of service or when the sum of the participant’s age and years of credited service equals or exceeds 80 years. Participants may elect to receive reduced retirement at age 55 with 5 years of service or at any age below 50 with 30 years of service or any combination of age plus years of service which equals 80. A member is fully vested after 5 years of creditable service and is entitled to any benefit for which eligibility requirements have been met. Participants in the Optional Retirement Program are fully vested in their individual investments after one year of service.

NOTE 8. POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS

In addition to providing pension benefits, the State provides certain healthcare and life insurance benefits for retired employees. Most of the employees with 10 years of service will become eligible for those benefits when they reach normal retirement age while working for the State. Those and similar benefits for active employees are provided through an insurance company whose premiums are based on benefits paid during the previous year. The State recognizes the cost of providing these benefits by expending the annual insurance premiums. The State's average contribution per full-time employee was $295 per month for the year ended August 31, 2011 ($304 per month for fiscal year 2010). The cost of providing those benefits for all employees in the year ended August 31, 2011, paid by the State of Texas on behalf of the District, totaled $10,460,970 ($9,794,915 for the year ended August 31, 2010) with $3,623,229 for 577 retirees (retiree benefits for 566 retirees cost $3,041,253 in fiscal year 2010) and $6,837,741 for 1,929 active employees (active employee benefits for 1,853 employees cost $6,753,662 in fiscal year 2010). The on behalf payments are reflected in the accompanying financial statements as both revenues and expenses. Plan Description. Tarrant County College District contributes to the State Retiree Health Plan (SRHP), a cost-sharing, multiple-employer, defined benefit postemployment healthcare plan administered by the Employees Retirement System of Texas (ERS). SRHP provides medical benefits to retired employees of participating universities, community colleges and state agencies in accordance with Chapter 1551, Texas Insurance Code. Benefit and contribution provisions of SRHP are authorized by State law and may be amended by the Texas Legislature. ERS issues a publicly available financial report that includes financial statements and required supplementary information for SRHP. That report may be obtained from ERS via their website at http://www.ers.state.tx.us/. Funding Policy. Section 1551.055 of Chapter 1551, Texas Insurance Code provides that contribution requirements of the plan members and the participating employers are established and may be amended by the ERS board of trustees. Plan members or beneficiaries receiving benefits pay any premium over and above the employer contribution.


24

NOTE 8. POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS-continued The employer’s share of the cost of retiree healthcare coverage for the current year is known as the implicit rate subsidy. It is the difference between the claims costs for the retirees and the amounts contributed by the retirees. The ERS board of trustees sets the employer contribution rate based on the implicit rate subsidy which is actuarially determined in accordance with the parameters of GASB Statement 45.

The employer contribution rate represents a level of funding that, if paid on an ongoing basis, is projected to cover normal costs each year and amortize any unfunded actuarial liabilities (or funding excess) of the plan over a period not to exceed thirty years.

The District’s contributions to SRHP for the years ended August 31, 2011, 2010 and 2009, were $313,068, $281,414, and $250,762, respectively, which equaled the required contributions each year.

NOTE 9. DEFERRED COMPENSATION PROGRAMS

District employees may elect to defer a portion of their earnings for income tax and investment purposes pursuant to authority granted in Government Code 609.001. The employees’ investments are held in tax deferred annuity plans pursuant to Internal Revenue Code Section 403(b). As of August 31, 2011 and 2010, the District had 390 and 349 employees participating in the program, respectively. A total of $3,416,580 and $1,796,716 in payroll deductions had been invested in approved plans during the fiscal years 2011 and 2010, respectively.

In June 2003 the District added a deferred compensation plan pursuant to Internal Revenue Code Section 457(b) to the employer benefit package. Full time employees can begin participating in the plan on their first day of employment. An employee can contribute up to a maximum of $16,500 ($22,000 for participants over 50 years of age) for 2011. As of August 31, 2011, the District had 153 employees participating in the program. A total of $1,800,941 in payroll deductions had been invested in approved plans during the fiscal year 2011. As of August 31, 2010, the District had 70 employees participating in the program. A total of $447,951 in payroll deductions had been invested in approved plans during the fiscal year 2010.

NOTE 10. COMPENSATED ABSENCES

Full-time employees earn vacation leave from 6.67 to 13.33 hours per month, depending on the number of years employed with the District. An employee may carry his accrued leave forward from one fiscal year to another fiscal year with a maximum number of hours up to twenty days for those employees with sixteen or more years of service. Employees with at least three months of service who terminate their employment are entitled to payment for all accumulated vacation leave up to the maximum allowed. Sick leave, which can be accumulated up to a maximum of 90 days is earned at the rate of 1 day per month. It is paid to an employee who misses work because of illness or to the estate of an employee in the event of his/her death. The maximum sick leave that may be paid to an employee with at least 10 years service upon separation or to an employee's estate is one-half of the employee's accumulated entitlement or 45 days, whichever is less.

Compensated absences activity for the years ended August 31, 2011 and 2010 was as follows:

Beginning Ending CurrentBalance Additions Reductions Balance Portion

2010 7,999,736$ 5,841,741$ 5,183,646$ 8,657,831$ 4,579,377$

2011 8,657,831$ 4,332,078$ 5,454,923$ 7,534,986$ 4,167,582$


25

NOTE 11. PENDING LAWSUITS AND CLAIMS

On August 31, 2011, various lawsuits and claims involving the District were pending. The ultimate liability with respect to litigation and other claims asserted against the District cannot be reasonably estimated at this time. Based on consultation with legal counsel, management believes this liability, if any, to the extent not provided for by insurance or otherwise, will not have a material effect on the District.

NOTE 12. OPERATING LEASE COMMITMENTS AND RENTAL AGREEMENTS

Future minimum lease rental payments under noncancellable operating leases having an initial term in excess of one year as of August 31, 2011 are as follows: Approximately $676,000 and $661,000 in rent paid or due under operating leases is included in expenses on the statement of revenues, expenses and changes in net assets for the years ended August 31, 2011 and 2010, respectively.

Effective in February 2007, the District entered into a contract to lease excess broadband capacity to a third party (the lessee). The lease is for an initial term of 15 years with an automatic 15 year renewal pending certain conditions. Under the terms of the lease, the District will receive (1) a $150,000 equipment allowance, payable in three installments over the lease term; (2) annual royalties of $702,662 through December 2010 and increased to $760,383 beginning January 2011, which is indexed for inflation beginning in 2013; and (3) a royalty overage equal to 0.2% of the lessee’s revenue derived from the leased capacity. Upon commencement of the initial lease term, the District also received a $2,000,000 inducement royalty payment. Annual future minimum payments to be received under this agreement are as follows: $760,383 for 2011-2012 and $760,383 indexed for inflation for 2013-2037, with an additional $50,000 in 2016 and 2026.

NOTE 13. CONTRACT AND GRANT AWARDS

The District receives funding from various federal and state contract and grant programs. Revenues are recognized as funds are actually expended. Funds received, but not expended during the reporting period, are reported as deferred revenue. For direct federal contract and grant awards, funds expended, but not collected, are reported as federal receivables. Federal pass-through awards and non-federal contract and grant awards for which funds are expended, but not collected, are reported as state and local grants and contracts receivable. Contract and grant awards that are not yet funded and for which the institution has not yet performed services are not included in the financial statements. Contract and grant awards funds already committed, e.g. multi-year awards or funds awarded during fiscal years 2011 and 2010 for which monies have not been received nor funds expended totaled approximately $11,410,000 and $10,210,000, respectively. Of this amount approximately $5,630,000 and $6,350,000 were from federal contract and grant awards and $5,780,000 and $3,860,000 were from state contract and grant awards for fiscal years ended August 31, 2011 and 2010, respectively.

Fiscal Minimum FutureYear Ending Lease Payments

2012 685,968$ 2013 153,596 2014 40,893

880,457$


26

NOTE 14. RISK MANAGEMENT

The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The District fully insures its buildings, structures, contents and equipment with the purchase of commercial insurance in an all risk blanket property insurance policy. The District has designated unrestricted net assets of $700,000 to cover self-insurance for workers’ compensation, unemployment compensation and insurance policy deductibles.

Settled claims have not exceeded commercial insurance coverage in any of the past three years. The District self-insures its workers' compensation plan and its unemployment compensation.

The workers’ compensation plan is administered by an outside insurance carrier which processes all self-insurance claims. The District also carries an insurance policy for excess liabilities related to workers’ compensation. An outside agent processes all unemployment compensation claims. The District has accrued amounts that represent the best estimate of claims filed, but not paid and claims incurred, but not reported. Accrued liabilities are generally based on actuarial valuation and the present value of unpaid expected claims. The discount rates used to calculate the present value of liabilities were 2.5% and 3.5% for the years ended August 31, 2011 and 2010, respectively.

Changes in the accrued uninsured claims liability are as follows for fiscal years ended August 31:

NOTE 15. RELATED PARTIES

The Tarrant County College Foundation is a nonprofit organization with the sole purpose of supporting the educational and other activities of the District. The Foundation solicits donations and acts as coordinator of gifts made by other parties. It remitted restricted gifts of $936,794 and $610,733 to the District during the years ended August 31, 2011 and 2010, respectively. During the fiscal year, the District furnished certain services, such as office space, utilities and some staff assistance to the Foundation at no charge. As of August 31, 2011 and 2010, the District had a receivable balance due from the Foundation of $311,919 and $272,814, respectively. During the years ended August 31, 2011 and 2010, the District transferred funds restricted for scholarships to the Foundation for administration of the scholarships. The total amount of the transfers was $0 and $201,997, respectively, for fiscal years 2011 and 2010.

2011 2010

Beginning balance 973,452$ 1,015,332$ Current year claims and changes in estimates 760,775 732,264

Claim payments (812,485) (774,144)

Ending balance 921,742 973,452

Current portion (856,247) (796,852)

Non-current portion 65,495$ 176,600$


27

NOTE 16. PROPERTY TAX CALENDAR

The District's ad valorem property tax is levied each October 1 on the assessed value listed as of the prior January 1 for all real and personal property located in the District.

Taxes levied for the years ended August 31, 2011 and 2010 amounted to $167,408,286 and $175,561,514, respectively, including any penalties and interest assessed. Property taxes attach as an enforceable lien on property as of January 1 following the October 1 levy. Taxes are due on receipt of the tax bill and are delinquent if not paid before February 1 of the year following the year in which imposed.

Current DebtOperations Service Total

Tax Rate per $100 valuation authorized $ .20000 $ .50000 $ .70000(maximum per enabling legislation)

Tax Rate per $100 valuation assessed $ .13126 $ .00641 $ .13767

2010

2011 2010

Assessed Valuation of the District 147,126,304,461$ 153,275,700,683$

Less: Exemptions (25,115,089,135) (25,568,435,000)

Net Assessed Valuation of the District 122,011,215,326$ 127,707,265,683$

Current DebtOperations Service Total

Tax Rate per $100 valuation authorized $ .20000 $ .50000 $ .70000(maximum per enabling legislation)

Tax Rate per $100 valuation assessed $ .13126 $ .00638 $ .13764

2011


28

NOTE 16. PROPERTY TAX CALENDAR– continued The use of tax proceeds is restricted to either maintenance and operations or interest and sinking expenses. Tax collections for the years ended August 31, 2011 and 2010 were 100.33% and 98.77% of the current tax levy, respectively. The District remitted payments of $3,971,733 and $4,420,349 in fiscal years 2011 and 2010, respectively, for taxes collected on behalf of Tax Incremental Finance Districts. Allowances for uncollectible taxes are based upon historical experience in collecting property taxes.

NOTE 17. INCOME TAXES

The District is exempt from income taxes under Internal Revenue Code Section 115, Income of States, Municipalities, Etc., although unrelated business income may be subject to income taxes under Internal Revenue Code Section 511 (a)(2)(B), Imposition of Tax on Unrelated Business Income of Charitable, Etc. Organizations. The District had no unrelated business income tax liability for the years ended August 31, 2011 and 2010.

Current DebtTaxes Collected Operations Service Total

Current Taxes Collected 163,908,667$ 8,004,377$ 171,913,044$

Delinquent Taxes Collected 1,658,369 80,985 1,739,354

Penalties and Interest Collected 1,407,713 68,745 1,476,458

Total Collections 166,974,749$ 8,154,107$ 175,128,856$

2010

Current DebtTaxes Collected Operations Service Total

Current Taxes Collected 157,370,040$ 7,649,100$ 165,019,140$

Delinquent Taxes Collected 1,493,827 72,609 1,566,436

Penalties and Interest Collected 1,307,525 63,553 1,371,078

Total Collections 160,171,392$ 7,785,262$ 167,956,654$

2011


29

NOTE 18. CAPITAL ASSETS

Capital assets activity for the years ended August 31, 2011 and 2010, is summarized as follows:

Beginning Additions EndingBalance (Transfers) Deletions Balance

Land 74,034,151$ $ $ 74,034,151$ Collections 1,440,997 1,440,997 Construction in progress 207,274,733 (201,064,435) 6,210,298

Total cost of non-depreciable capital assets 282,749,881 (201,064,435) 81,685,446

Buildings 385,752,626 192,726,650 578,479,276 Improvements other than buildings 147,876,665 55,788,187 (6,582) 203,658,270 Telecommunications and peripheral equipment 25,295,448 5,431,634 (530,386) 30,196,696 Library books 7,483,371 685,732 (554,409) 7,614,694 Furniture and other equipment 25,903,327 10,943,361 (521,546) 36,325,142

Total cost of depreciable capital assets 592,311,437 265,575,564 (1,612,923) 856,274,078

Total cost of capital assets 875,061,318 64,511,129 (1,612,923) 937,959,524

Accumulated DepreciationBuildings 63,127,626 7,232,637 70,360,263 Improvements other than buildings 35,118,114 7,565,189 (1,061) 42,682,242 Telecommunications and peripheral equipment 16,149,513 3,001,288 (521,952) 18,628,849 Library books 4,142,499 592,559 (355,954) 4,379,104 Furniture and other equipment 11,779,269 2,278,393 (350,099) 13,707,563

Total accumulated depreciation 130,317,021 20,670,066 (1,229,066) 149,758,021

Net other capital assets 461,994,416 244,905,498 (383,857) 706,516,057

Net capital assets 744,744,297$ 43,841,063$ (383,857)$ 788,201,503$

2011


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NOTE 18. CAPITAL ASSETS-continued

On June 25, 2008, the District purchased the RadioShack complex in downtown Fort Worth, Texas, consisting of land, buildings, furniture, fixtures, art work and equipment, for approximately $238,000,000. The District has renovated this property and it opened as the Trinity River Campus in the fall of 2009. Under the purchase agreement, RadioShack will continue to occupy two of the five buildings in the complex for an initial term that ended in June 2011, and was extended through June 2016. As a result, the District had imputed lease income of $20,250,480 and increased its basis in the purchased assets by this amount. Lease income of $6,641,800 and $6,750,160 was recognized during the years ended August 31, 2011 and 2010, respectively, and $0 and $5,625,133 are included in deferred revenue at August 31, 2011 and 2010, respectively.

Beginning Additions EndingBalance (Transfers) Deletions Balance

Land 73,450,499$ 583,652$ $ 74,034,151$ Collections 1,440,997 1,440,997 Construction in progress 186,172,294 21,102,439 207,274,733

Total cost of non-depreciable capital assets 261,063,790 21,686,091 282,749,881

Buildings 385,752,626 385,752,626 Improvements other than buildings 96,771,626 51,105,039 147,876,665 Telecommunications and peripheral equipment 23,028,763 3,149,252 (882,567) 25,295,448 Library books 6,962,391 967,351 (446,371) 7,483,371 Furniture and other equipment 22,891,336 3,392,842 (380,851) 25,903,327

Total cost of depreciable capital assets 535,406,742 58,614,484 (1,709,789) 592,311,437

Total cost of capital assets 796,470,532 80,300,575 (1,709,789) 875,061,318

Accumulated DepreciationBuildings 56,184,078 6,943,548 63,127,626 Improvements other than buildings 29,764,078 5,354,036 35,118,114 Telecommunications and peripheral equipment 14,374,707 2,562,908 (788,102) 16,149,513 Library books 3,891,436 549,024 (297,961) 4,142,499 Furniture and other equipment 10,199,597 1,859,262 (279,590) 11,779,269

Total accumulated depreciation 114,413,896 17,268,778 (1,365,653) 130,317,021

Net other capital assets 420,992,846 41,345,706 (344,136) 461,994,416

Net capital assets 682,056,636$ 63,031,797$ (344,136)$ 744,744,297$

2010


31

NOTE 19. COMMITMENTS AND CONTINGENCIES

The District has entered into several contracts for various construction and renovation projects across the District. As of August 31, 2011, these contracts totaled approximately $21,000,000.

NOTE 20. DESIGNATIONS OF UNRESTRICTED NET ASSETS

The governing board of the District has made the following designations of unrestricted net assets: NOTE 21. DISAGGREGATION OF RECEIVABLES AND PAYABLES BALANCES

Receivables Accounts receivable at August 31, 2011 and 2010, were as follows:

2011 2010

Unrestricted net assets

Designated for

Capital outlay 25,833,481$ 25,281,272$

Future renewals and

replacements 24,697,245 27,716,584

Future operating budgets 5,000,000 5,000,000

Insurance 700,000 700,000

Undesignated 103,799,764 98,944,523

Total unrestricted net assets 160,030,490$ 157,642,379$

2011 2010

Student Receivables 8,667,328$ 5,688,498$

Accounts Receivable 1,102,701 1,104,947

Other Receivables 1,910,303 204,709

Subtotal 11,680,332 6,998,154

Allowance for Doubtful Accounts (4,183,877) (2,831,689)

Total Accounts Receivable-Exhibit 1 7,496,455$ 4,166,465$


32

NOTE 21. DISAGGREGATION OF RECEIVABLES AND PAYABLES BALANCES-continued

Payables

Accounts payable and accrued liabilities at August 31, 2011 and 2010, were as follows:

2011 2010

Vendors Payable 13,244,814$ 14,925,246$

Accounts Payable-Exhibit 1 13,244,814 14,925,246

Salaries & Benefits Payable 6,920,957 3,604,255

Workers' Compensation Payable 684,834 683,858

Retainage Payable 1,466,887 5,729,287

Accrued Interest 65,061 79,089

Unemployment Compensation 171,413 112,994

Accrued Liabilities-Exhibit 1 9,309,152 10,209,483

Total Accounts Payable and

Accrued Liabilities 22,553,966$ 25,134,729$

SUPPLEMENTARY DATA

TotalEducational

Unrestricted Restricted Activities

TuitionState funded courses

In-district resident tuition 42,854,626$ $ 42,854,626$ Out-of-district resident tuition 5,131,785 5,131,785 TPEG- credit (set aside)* 3,086,418 3,086,418 Non-resident tuition 4,443,937 4,443,937 Continuing education 3,185,985 3,185,985 TPEG-continuing education (set aside)* 203,361 203,361

Non-state funded continuing education 1,482,523 1,482,523

Total tuition 60,388,635 60,388,635

FeesLaboratory fees 108,660 108,660 Other fees 176,494 176,494

Total fees 285,154 285,154

Scholarship allowances and discountsScholarship allowances (764,292) (764,292) Remissions and exemptions (1,174,928) (1,174,928) TPEG allowances (499,909) (499,909) Federal grants to students (10,273,588) (10,273,588)

Total scholarship allowances (12,712,717) (12,712,717)

Total net tuition and fees 47,961,072 47,961,072

Other operating revenuesFederal grants and contracts 3,738,898 3,738,898 State grants and contracts 6,403,470 6,403,470 Non-governmental grants and contracts 3,123,262 3,123,262 Other operating revenues 6,922,636 6,922,636

Total other operating revenues 6,922,636 13,265,630 20,188,266

Auxiliary enterprisesBookstore Food service Testing center Child center

Total net auxiliary enterprises

Total operating revenues 54,883,708$ 13,265,630$ 68,149,338$

* In accordance with Education Code 56.033, $3,289,779 and $3,181,799 of tuition for the years ending August 31, 2011 and 2010, respectively, was set aside for Texas Public Education Grants (TPEG)

Note: The District has contracted with a college bookstore operator to operate and manage the District's bookstores

under an agreement that terminates on September 30, 2016 and may be renewed for additional successive one

year periods upon mutual agreement of the parties.

(WITH MEMORANDUM TOTALS FOR THE YEAR ENDED AUGUST 31, 2010)

TARRANT COUNTY COLLEGE DISTRICTSCHEDULE A

SCHEDULE OF OPERATING REVENUESYEAR ENDED AUGUST 31, 2011

34

Auxiliary 2011 2010Enterprises Total Total

$ 42,854,626$ 39,508,427$

5,131,785 4,879,684 3,086,418 2,986,650 4,443,937 4,035,593 3,185,985 3,037,679

203,361 195,149 1,482,523 1,693,218

60,388,635 56,336,400

108,660 108,158 176,494 121,951

285,154 230,109

(764,292) (744,585) (1,174,928) (849,635)

(499,909) (492,888) (10,273,588) (8,972,075)

(12,712,717) (11,059,183)

47,961,072 45,507,326

3,738,898 2,662,284 6,403,470 4,436,087 3,123,262 2,245,408 6,922,636 7,036,611

20,188,266 16,380,390

2,048,756 2,048,756 1,945,456 386,803 386,803 326,433 721,984 721,984 847,371 296,127 296,127 262,250

3,453,670 3,453,670 3,381,510

3,453,670$ 71,603,008$ 65,269,226$

(Exhibit 2) (Exhibit 2)

35

Salariesand Wages State Local

Unrestricted - educational activitiesInstruction 77,417,159$ $ 12,978,746$ Public service 3,168,293 649,047 Academic support 13,887,427 3,906,678 Student services 14,876,756 3,187,748 Institutional support 14,681,491 3,033,814 Operation and maintenance of plant 8,006,056 3,335,542 Scholarships and fellowships

Total unrestricted educational activities 132,037,182 27,091,575

Restricted - educational activitiesInstruction 1,402,957 7,448,107 Public service 316,878 658,403 Academic support 1,285,924 Student services 1,128,636 1,743,217 Institutional support 6,024,148 Scholarships and fellowships

Total restricted educational activities 2,848,471 17,159,799

Total educational activities 134,885,653 17,159,799 27,091,575

Auxiliary enterprises 320,292 135,633

Depreciation expense Buildings and other real estate improvements

Equipment and furniture

Total operating expenses 135,205,945$ 17,159,799$ 27,227,208$

YEAR ENDED AUGUST 31, 2011

Staff Benefits

TARRANT COUNTY COLLEGE DISTRICTSCHEDULE B

SCHEDULE OF OPERATING EXPENSESBY OBJECT


36

Other 2011 2010Expenses Total Total

10,558,454$ 100,954,359$ 85,650,835$ 657,251 4,474,591 4,498,985

2,767,545 20,561,650 15,735,278 3,660,588 21,725,092 17,572,265 7,057,996 24,773,301 25,976,946

23,599,847 34,941,445 39,900,473 1,171,689 1,171,689 849,635

49,473,370 208,602,127 190,184,417

4,360,955 13,212,019 10,270,585 1,551,586 2,526,867 2,240,318

1,285,924 1,182,697 685,861 3,557,714 3,268,653

6,024,148 5,230,519 77,620,858 77,620,858 54,733,399

84,219,260 104,227,530 76,926,171

133,692,630 312,829,657 267,110,588

1,807,061 2,262,986 2,114,115

14,797,826 14,797,826 12,297,583

5,872,240 5,872,240 4,971,195

156,169,757$ 335,762,709$ 286,493,481$ (Exhibit 2) (Exhibit 2)

37

AuxiliaryUnrestricted Restricted Enterprises

NON-OPERATING REVENUES State appropriations Education and general state support 48,763,674$ $ $ State group insurance 10,460,970 State retirement matching 6,698,829

Total state appropriations 48,763,674 17,159,799

Maintenance ad valorem taxes 155,795,642Debt service ad valorem taxes 7,543,745Federal grants and contracts 84,809,753Gifts 750 Investment income 1,475,124 125,387 Other income 2,213,352

Total non-operating revenues 215,792,287 102,094,939

NON-OPERATING EXPENSESTransfers to Tarrant County College Foundation Loss on disposal of assets (383,857)

Total non-operating expenses (383,857)

Net non-operating revenues 215,408,430$ 102,094,939$ $


TARRANT COUNTY COLLEGE DISTRICTSCHEDULE C

SCHEDULE OF NON-OPERATING REVENUES AND EXPENSESYEAR ENDED AUGUST 31, 2011

38

2011 2010Total Total

48,763,674$ 50,920,045$ 10,460,970 9,794,915 6,698,829 6,418,375

65,923,473 67,133,335

155,795,642 163,029,904 7,543,745 7,959,220

84,809,753 59,862,557 750 5,250

1,600,511 1,404,780 2,213,352 702,665

317,887,226 300,097,711

(201,997) (383,857) (302,517)

(383,857) (504,514)

317,503,369$ 299,593,197$ (Exhibit 2) (Exhibit 2)

39

Unrestricted Expendable Non-Expendable

Current:Unrestricted 83,904,811$ $ $

Board designated 56,230,726 Restricted 2,900,925 Auxiliary enterprises 19,894,953

Loan 138,624 Plant:Debt service 3,203,452 Investment in plant

Total net assets, August 31, 2011 160,030,490 6,243,001

Total net assets, August 31, 2010 157,642,379 5,601,190

Net increase in net assets 2,388,111$ 641,811$ $

Restricted

Detail by Source

TARRANT COUNTY COLLEGE DISTRICTSCHEDULE D

SCHEDULE OF NET ASSETS BY SOURCE AND AVAILABILITYYEAR ENDED AUGUST 31, 2011


40

Capital AssetsNet of Depreciation

& Related Debt Total Yes No

$ 83,904,811$ 83,904,811$ $ 56,230,726 56,230,726 2,900,925 2,900,925

19,894,953 19,894,953 138,624 138,624

3,203,452 3,203,452

757,613,463 757,613,463 757,613,463

757,613,463 923,886,954 103,799,764 820,087,190

(Exhibit 1)

707,299,717 870,543,286 98,944,523 771,598,763

(Exhibit 1)

50,313,746$ 53,343,668$ 4,855,241$ 48,488,427$

(Exhibit 2)

Available for Current OperationsDetail by Source

41

StatisticalSection

StatisticalSection

Statistical Section

43

STATISTICAL SECTION

This part of the Tarrant County College District’s comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures and required supplementary information says about the District’s overall financial health.

Contents

Statistical

Supplements

Financial Trends 1-3

These schedules contain trend information to help the reader understand

how the District’s financial performance and well-being have changed over

time.

Revenue Capacity 4-8

These schedules contain information to help the reader assess the District’s

most significant local revenue sources.

Debt Capacity 9-11

These schedules present information to help the reader assess the

affordability of the District’s current level of outstanding debt.

Demographic and Economic Information 12-13

These schedules offer demographic and economic indicators to help the

reader understand the environment within which the District’s activities take

place.

Operating Information 14-18

These schedules contain employment, enrollment and infrastructure data to

help the reader understand how the information in the District’s financial

report relates to the services the District provides and the activities it

performs.

Sources: Unless otherwise noted, the information in these schedules is derived from

the comprehensive financial reports from the relevant year.

2011 2010 2009 2008

Invested in capital assets, net of related debt 757,613,463$ 707,299,717$ 638,222,485$ 548,838,668$

Restricted - expendable 6,243,001 5,601,190 5,419,823 5,709,923

Restricted - nonexpendable 207,973 699,347

Unrestricted 160,030,490 157,642,379 148,297,840 143,437,568

Total primary government net assets 923,886,954 870,543,286 792,148,121 698,685,506

Net Assets beginning of year 870,543,286 792,148,121 698,685,506 587,033,673

Increase in net assets 53,343,668$ 78,395,165$ 93,462,615$ 111,651,833$


NET ASSETS BY COMPONENTSTATISTICAL SUPPLEMENT 1

(UNAUDITED)FISCAL YEARS 2002 TO 2011

44

2007 2006 2005 2004 2003 2002

207,334,709$ 152,503,842$ 130,334,950$ 98,652,552$ 83,874,913$ 81,769,237$

4,524,571 4,628,236 5,647,254 4,597,889 4,129,722 4,296,615

673,065 607,895 561,604 554,164 528,526 473,621

374,501,328 320,001,778 246,888,986 201,459,679 148,701,618 92,356,783

587,033,673 477,741,751 383,432,794 305,264,284 237,234,779 178,896,256

477,741,751 383,432,794 305,264,284 237,234,779 178,896,256 140,737,496

109,291,922$ 94,308,957$ 78,168,510$ 68,029,505$ 58,338,523$ 38,158,760$

For the Fiscal Year Ended August 31

45

2011 2010 2009 2008Operating Revenues Tuition and Fees (Net of Discounts) 47,961,072$ 45,507,326$ 41,411,491$ 38,918,863$ Governmental Grants and Contracts Federal Grants and Contracts 3,738,898 2,662,284 4,530,581 2,420,630 State Grants and Contracts 6,403,470 4,436,087 2,931,041 2,335,426 Non-Governmental Grants and Contracts 3,123,262 2,245,408 2,180,664 1,139,402 Auxiliary enterprises 3,453,670 3,381,510 3,103,757 3,211,761 Other Operating Revenues 6,922,636 7,036,611 7,095,780 1,481,599

Total Operating Revenues 71,603,008 65,269,226 61,253,314 49,507,681 Non-operating revenues State Appropriations 65,923,473 67,133,335 60,335,031 59,543,945 Ad-Valorem taxes 163,339,387 170,989,124 168,458,577 156,897,585 Federal Grants and Contracts 84,809,753 59,862,557 35,579,625 23,179,682 Gifts 750 5,250 1,200 Investment Income 1,600,511 1,404,780 3,681,350 17,518,082 Other Income 2,213,352 702,665 702,660 702,656

Total Non-Operating Revenues 317,887,226 300,097,711 268,757,243 257,843,150 Other Revenues Additions to permanent endowments 26,223 42,660 40,810

Total Revenues 389,490,234$ 365,393,160$ 330,053,217$ 307,391,641$

Operating Revenues Tuition and Fees (Net of Discounts) 12.31% 12.45% 12.55% 12.65% Governmental Grants and Contracts Federal Grants and Contracts 0.96% 0.73% 1.37% 0.79% State Grants and Contracts 1.64% 1.21% 0.89% 0.76% Non-Governmental Grants and Contracts 0.80% 0.61% 0.66% 0.37% Auxiliary enterprises 0.89% 0.93% 0.94% 1.04% Other Operating Revenues 1.78% 1.93% 2.15% 0.48%

Total Operating Revenues 18.38% 17.86% 18.56% 16.09%Non-operating revenues State Appropriations 16.93% 18.37% 18.28% 19.37% Ad-Valorem taxes 41.94% 46.80% 51.04% 51.06% Federal Grants and Contracts 21.77% 16.38% 10.78% 7.54% Gifts 0.00% 0.00% 0.00% 0.00% Investment Income 0.41% 0.38% 1.12% 5.70% Other Income 0.57% 0.19% 0.21% 0.23%

Total Non-Operating Revenues 81.60% 82.12% 81.43% 83.90%

Other Revenues Additions to permanent endowments 0.02% 0.02% 0.01% 0.01%

Total Revenues 100.00% 100.00% 100.00% 100.00%



REVENUES BY SOURCESTATISTICAL SUPPLEMENT 2

46

2007 2006 2005 2004 2003 2002

35,651,135$ 37,454,608$ 35,771,981$ 28,235,712$ 26,528,358$ 25,294,372$

2,122,182 2,642,452 2,799,072 2,132,709 2,951,984 2,198,878 1,793,467 1,377,111 2,171,726 2,238,875 1,993,388 2,146,441 1,366,985 1,049,439 954,541 578,946 606,511 573,590 4,513,492 15,677,393 16,161,056 13,301,776 14,056,573 12,986,324

428,375 564,977 881,735 719,500 613,746 278,992

45,875,636 58,765,980 58,740,111 47,207,518 46,750,560 43,478,597

57,004,281 56,331,587 50,517,157 51,271,037 50,282,450 51,967,096 145,076,199 133,946,296 125,472,175 119,660,692 111,523,895 79,021,851 20,153,359 18,676,113 17,847,942 17,693,920 12,136,643 9,673,292

1,000 1,101,500 450 12,000 11,000 24,545 21,165,311 13,464,141 4,529,550 3,749,014 2,128,295 4,917,960 5,141,280 1,189,502

248,541,430 224,709,139 198,367,274 192,386,663 176,082,283 145,604,744

64,698 45,801 7,109 25,400 54,528 52,072

294,481,764$ 283,520,920$ 257,114,494$ 239,619,581$ 222,887,371$ 189,135,413$

12.11% 13.21% 13.91% 11.78% 11.90% 13.37%

0.72% 0.93% 1.09% 0.89% 1.32% 1.16%0.61% 0.49% 0.84% 0.94% 0.89% 1.14%0.46% 0.37% 0.37% 0.24% 0.27% 0.30%1.53% 5.53% 6.29% 5.55% 6.31% 6.87%0.15% 0.20% 0.34% 0.30% 0.28% 0.15%

15.58% 20.73% 22.84% 19.70% 20.97% 22.99%

19.36% 19.87% 19.65% 21.40% 22.56% 27.48%49.26% 47.24% 48.81% 49.94% 50.05% 41.78%6.84% 6.59% 6.94% 7.38% 5.45% 5.11%0.00% 0.39% 0.00% 0.01% 0.00% 0.01%7.19% 4.75% 1.76% 1.56% 0.95% 2.60%1.75% 0.42% 0.00% 0.00% 0.00% 0.00%

84.40% 79.26% 77.16% 80.29% 79.01% 76.98%

0.02% 0.01% 0.00% 0.01% 0.02% 0.03%

100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

For the Year Ended August 31

47

2011 2010 2009 2008

Instruction 114,166,378$ 95,921,420$ 83,437,483$ 75,066,102$ Public Service 7,001,458 6,739,303 6,365,670 5,041,719 Academic support 21,847,574 16,917,975 14,013,169 12,514,941 Student Services 25,282,806 20,840,918 17,849,057 15,874,448 Institutional Support 30,797,449 31,207,465 26,010,789 23,307,939 Operation and maintenance of plant 34,941,445 39,900,473 38,177,688 32,293,652 Scholarship and fellowships 78,792,547 55,583,034 35,129,416 21,813,943 Auxiliary enterprises 2,262,986 2,114,115 1,624,126 1,582,216 Depreciation 20,670,066 17,268,778 12,123,042 7,961,528

Total Operating Expenses 335,762,709 286,493,481 234,730,440 195,456,488

Interest on capital related debtFoundation Transfer 201,997 1,432,482 Loss on disposal of fixed assets 383,857 302,517 427,680 283,320

Total Non-Operating Expenses 383,857 504,514 1,860,162 283,320

Total Expenses 336,146,566$ 286,997,995$ 236,590,602$ 195,739,808$

Instruction 33.98% 33.42% 35.27% 38.35%Public Service 2.08% 2.35% 2.69% 2.58%Academic support 6.50% 5.89% 5.92% 6.39%Student Services 7.52% 7.26% 7.54% 8.11%Institutional Support 9.16% 10.87% 10.99% 11.91%Operation and maintenance of plant 10.39% 13.90% 16.14% 16.50%Scholarship and fellowships 23.44% 19.37% 14.85% 11.14%Auxiliary enterprises 0.67% 0.74% 0.69% 0.81%Depreciation 6.15% 6.02% 5.12% 4.07%

Total Operating Expenses 99.89% 99.82% 99.21% 99.86%

Interest on capital related debt 0.00% 0.00% 0.00% 0.00%Foundation Transfer 0.00% 0.07% 0.61%Loss on disposal of fixed assets 0.11% 0.11% 0.18% 0.14%

Total Non-Operating Expenses 0.11% 0.18% 0.79% 0.14%

Total Expenses 100.00% 100.00% 100.00% 100.00%



PROGRAM EXPENSES BY FUNCTIONSTATISTICAL SUPPLEMENT 3

48

2007 2006 2005 2004 2003 2002

71,745,930$ 68,221,085$ 64,375,184$ 60,187,257$ 62,414,818$ 58,961,647$ 4,641,156 4,751,125 5,688,458 5,117,646 5,997,451 7,635,900

11,349,181 10,097,671 11,281,130 11,017,822 10,226,384 7,861,647 14,125,391 14,092,532 13,179,019 12,156,394 11,468,422 12,129,269 26,263,394 21,636,434 20,740,980 20,617,202 17,366,332 15,561,437 26,056,295 23,876,530 19,063,186 17,475,544 20,112,423 16,022,303 18,846,333 21,169,637 17,924,863 15,683,897 9,851,563 8,241,431 2,583,589 14,599,987 14,620,155 13,036,081 13,930,959 12,094,618 7,561,001 7,941,827 8,683,682 9,339,681 8,702,753 8,176,546

183,172,270 186,386,828 175,556,657 164,631,524 160,071,105 146,684,798

1,055,063 2,676,865 3,201,195 3,843,954 4,151,994 3,683,493

962,509 148,270 188,132 192,708 325,749 608,362

2,017,572 2,825,135 3,389,327 4,036,662 4,477,743 4,291,855

185,189,842$ 189,211,963$ 178,945,984$ 168,668,186$ 164,548,848$ 150,976,653$

38.73% 36.04% 35.98% 35.68% 37.93% 39.05%2.51% 2.51% 3.18% 3.04% 3.64% 5.06%6.13% 5.34% 6.30% 6.53% 6.22% 5.21%7.63% 7.45% 7.36% 7.21% 6.97% 8.03%

14.18% 11.44% 11.59% 12.22% 10.55% 10.31%14.07% 12.62% 10.65% 10.36% 12.22% 10.61%10.18% 11.19% 10.02% 9.30% 5.99% 5.46%1.40% 7.72% 8.17% 7.73% 8.47% 8.01%4.08% 4.20% 4.85% 5.54% 5.29% 5.42%

98.91% 98.51% 98.10% 97.61% 97.28% 97.16%

0.57% 1.41% 1.79% 2.28% 2.52% 2.44%

0.52% 0.08% 0.11% 0.11% 0.20% 0.40%

1.09% 1.49% 1.90% 2.39% 2.72% 2.84%

100.00% 100.00% 100.00% 100.00% 100.00% 100.00%


49

Facilities Use Total TotalIn-District Out-of-District & Technology Student Tuition & Fees Tuition & Fees

Tuition Tuition Fees Services Fee In-District Out-of-District

2011 50$ 73$ $ $ 50$ 73$

2010 50 73 50 73

2009 50 73 50 73

2008 50 63 50 63

2007 50 63 50 63

2006 48 61 48 61

2005 (a) 46 59 46 59

2004 31 43 6 1 38 50

2003 30 42 6 1 37 49

2002 29 41 6 1 36 48

Non-Resident Non-Resident Facilities Use Total TotalTuition Tuition & Technology Student Tuition & Fees Tuition & Fees

Out of State International Fees Services Fee Out of State International

2011 165$ 165$ $ $ 165$ 165$

2010 165 165 165 165

2009 165 165 165 165

2008 150 150 150 150

2007 150 150 150 150

2006 150 150 150 150

2005 150 150 150 150

2004 140 140 6 1 147 147

2003 140 140 6 1 147 147

2002 140 140 6 1 147 147

Note:(a) Beginning with the 2004-2005 academic year, the District no longer assessed a $24 laboratory fee, a $6 facilities use fee, and a $1 student services fee. They are now included in the tuition rate.

LAST TEN ACADEMIC YEARS(UNAUDITED)

TARRANT COUNTY COLLEGE DISTRICTSTATISTICAL SUPPLEMENT 4

TUITION AND FEES

Year

RESIDENT

NON-RESIDENTFees per Semester Credit Hour (SCH)

Fees per Semester Credit Hour (SCH)

AcademicYear

Academic

50

Cost for 12 Cost for 12 Increase from Increase fromSCH SCH Prior Year Prior Year

In-District Out-of-District In-District Out-of-District

600$ 876$ 0.00% 0.00%

600 876 0.00% 0.00%

600 876 0.00% 15.87%

600 756 0.00% 0.00%

600 756 4.17% 3.28%

576 732 4.35% 3.39%

552 708 21.59% 18.39%

454 598 2.71% 2.05%

442 586 2.79% 2.09%

430 574 2.87% 2.14%

Cost for 12 Cost for 12 Increase from Increase fromSCH SCH Prior Year Prior Year

Out of State International Out of State International

1,980$ 1,980$ 0.00% 0.00%

1,980 1,980 0.00% 0.00%

1,980 1,980 10.00% 10.00%

1,800 1,800 0.00% 0.00%

1,800 1,800 0.00% 0.00%

1,800 1,800 0.00% 0.00%

1,800 1,800 2.16% 2.16%

1,762 1,762 0.00% 0.00%

1,762 1,762 0.00% 0.00%

1,762 1,762 0.00% 0.00%

RESIDENTFees per Semester Credit Hour (SCH)

NON-RESIDENTFees per Semester Credit Hour (SCH)

51

Fiscal Year

Assessed Valuation of

Real Property


Personal Property


Property Less: Exemptions

2011 126,259,248,729$ 20,867,055,732$ 147,126,304,461$ (25,115,089,135)$

2010 131,940,371,709 21,335,328,974 153,275,700,683 (25,568,435,000)

2009 126,732,666,961 21,837,887,387 148,570,554,348 (23,951,146,989)

2008 117,918,342,981 20,528,694,871 138,447,037,852 (23,543,915,305)

2007 109,182,979,056 19,094,790,500 128,277,769,556 (22,509,449,466)

2006 96,338,355,955 19,697,899,501 116,036,255,456 (21,098,340,175)

2005 91,982,017,722 18,571,387,042 110,553,404,764 (20,245,811,412)

2004 88,752,885,287 16,779,677,480 105,532,562,767 (19,707,936,628)

2003 82,615,154,415 17,115,516,398 99,730,670,813 (19,646,371,613)

2002 75,084,549,470 17,880,188,814 92,964,738,284 (18,906,585,868)

Source:Tarrant Appraisal District

Notes:Property is assessed at full market value.(a) per $100 taxable assessed valuation

LAST TEN FISCAL YEARS(UNAUDITED)


ASSESSED VALUE AND TAXABLE ASSESSED VALUE OF PROPERTY

52

Taxable Assessed Value

Ratio of TaxableAssessed Value

to Assessed Value

Maintenance and

Operations (a) Debt Service

(a) Total (a)

122,011,215,326$ 82.93% 0.13126$ 0.00638$ 0.13764$

127,707,265,683 83.32% 0.13126 0.00641 0.13767

124,619,407,359 83.88% 0.13126 0.00670 0.13796

114,903,122,547 82.99% 0.13126 0.00812 0.13938

105,768,320,090 82.45% 0.13068 0.00870 0.13938

94,937,915,281 81.82% 0.13046 0.00892 0.13938

90,307,593,352 81.69% 0.12983 0.00955 0.13938

85,824,626,139 81.33% 0.12939 0.00999 0.13938

80,084,299,200 80.30% 0.12876 0.01062 0.13938

74,058,152,416 79.66% 0.09471 0.01170 0.10641

53

Fiscal YearState

Appropriation FTSE

State Appropriation

per FTSE

2011 48,763,674$ 28,417 1,716$

2010 50,920,045 25,536 1,994

2009 45,672,690 22,649 2,017

2008 45,442,760 21,658 2,098

2007 43,361,661 20,206 2,146

2006 43,361,661 20,509 2,114

2005 40,035,026 20,393 1,963

2004 40,035,687 19,231 2,082

2003 37,687,883 18,479 2,040

2002 40,482,758 17,066 2,372

Source:(a) CBM004(b) CBM00C

Note:FTSE is defined as the number of full time students plus total hours taken by part-time students divided by 12.

Appropriation per FTSE


STATE APPROPRIATION PER FTSE AND CONTACT HOURLAST TEN FISCAL YEARS

(UNAUDITED)

54

Academic and Vocational

ContactHours (a)

Continuing Ed Contact Hours (b)

Total Contact Hours

State Appropriation per Contact

Hour

18,559,872 1,467,076 20,026,948 2.43$

17,673,443 1,247,942 18,921,385 2.69

15,212,795 1,283,646 16,496,441 2.77

13,975,532 1,107,544 15,083,076 3.01

12,703,996 1,097,771 13,801,767 3.14

12,868,384 551,891 13,420,275 3.23

12,863,032 599,602 13,462,634 2.97

12,240,642 527,444 12,768,086 3.14

11,975,560 786,442 12,762,002 2.95

11,084,720 805,832 11,890,552 3.40

Appropriation per Contact Hour

55

TaxpayerType of

Business 2011 2010 2009

Oncor Electric Delivery Co LLC Electric Utility 888,088,078$ 903,047,789$ 912,586,199$ Chesapeake Operating Natural Gas Utility 736,221,860 512,027,150 459,642,110 Devon Energy Production Natural Gas Utility 506,053,300 497,668,900 594,289,520 Bell Helicopter Textron Helicopter Manufacturer 418,973,452 441,749,768 493,923,798 Wal-Mart Stores Retail 395,426,831 392,756,246 404,645,406 Quicksilver Resources Natural Gas Exploration 359,055,290 Southwestern Bell Telephone Utility 308,900,768 348,419,062 394,307,840 American Airlines Inc Airline 292,074,639 379,219,005 366,801,436 Opryland Hotels Hotel 273,331,856 247,781,677 256,104,271 Barnett Gathering LP Natural Gas Exploration 251,248,399 Encana Oil & Gas (USA) Inc Natural Gas Utility 311,069,570 297,235,050 XTO Energy Inc Natural Gas Utility 295,564,940 289,614,547 Ddr/Dtc City Investments Investments Grapevine Mills Ltd Partnership RetailTXU Electric Delivery Co Electric Utility City Center Development Co Real Estate DevelopmentChief Oil and Gas Natural Gas UtilityAlbertson's Inc. GroceryCAE Simuflite Aviation TrainingAlcon Laboratories PharmaceuticalGeneral Motors Corp Auto ManufacturerMiller Brewing Co BreweryDelta Airlines AirlineTandy Corp ElectronicsMaguire Thomas Partners Etal Commercial Real Estate DevelopmentAT&T Wireless Services Phone Service

Totals 4,429,374,473$ 4,329,304,107$ 4,469,150,177$

Total Taxable Assessed Value 122,011,215,326$ 127,707,265,683$ 124,619,407,359$

TaxpayerType of

Business 2011 2010 2009

Oncor Electric Delivery Co LLC Electric Utility 0.73% 0.71% 0.73%Chesapeake Operating Natural Gas Utility 0.60% 0.40% 0.37%Devon Energy Production Natural Gas Utility 0.42% 0.39% 0.48%Bell Helicopter Textron Helicopter Manufacturer 0.34% 0.35% 0.40%Wal-Mart Stores Retail 0.32% 0.31% 0.32%Quicksilver Resources Natural Gas Exploration 0.30% 0.00% 0.00%Southwestern Bell Telephone Utility 0.25% 0.27% 0.32%American Airlines Inc Airline 0.24% 0.30% 0.29%Opryland Hotel 0.22% 0.19% 0.21%Barnett Gathering LP Natural Gas Exploration 0.21% 0.00% 0.00%Encana Oil & Gas (USA) Inc Natural Gas Utility 0.00% 0.24% 0.24%XTO Energy Inc Natural Gas Utility 0.00% 0.23% 0.23%Ddr/Dtc City Investments Investments 0.00% 0.00% 0.00%Grapevine Mills Ltd Partnership Retail 0.00% 0.00% 0.00%TXU Electric Delivery Co Electric Utility 0.00% 0.00% 0.00%City Center Development Co Real Estate Development 0.00% 0.00% 0.00%Chief Oil and Gas Natural Gas Utility 0.00% 0.00% 0.00%Albertson's Inc. Grocery 0.00% 0.00% 0.00%CAE Simuflite Aviation Training 0.00% 0.00% 0.00%Alcon Laboratories Pharmaceutical 0.00% 0.00% 0.00%General Motors Corp Auto Manufacturer 0.00% 0.00% 0.00%Miller Brewing Co Brewery 0.00% 0.00% 0.00%Delta Airlines Airline 0.00% 0.00% 0.00%Tandy Corp Electronics 0.00% 0.00% 0.00%Maguire Thomas Partners Etal Commercial Real Estate Development 0.00% 0.00% 0.00%AT&T Wireless Services Phone Service 0.00% 0.00% 0.00%

Totals 3.63% 3.39% 3.59%

Source:Tarrant Appraisal District


PRINCIPAL TAXPAYERSLAST TEN FISCAL YEARS

(UNAUDITED)

56

2008 2007 2006 2005 2004 2003 2002

1,065,754,757$ $ $ $ $ $ $

414,202,754 299,098,900 445,724,506 285,082,199 206,682,031 178,588,708 221,674,062 222,464,282 170,631,765 370,549,819 413,905,030 313,528,707 216,493,522

408,342,184 467,495,260 585,760,329 543,295,213 438,596,910 470,068,460 512,425,251 498,730,635 517,041,670 507,896,741 457,699,736 518,963,195 588,516,683 643,168,139 285,567,693 254,567,693 220,172,829 294,334,545 262,065,747

717,253,382 502,644,401 377,420,196 271,364,765 238,241,510 218,044,937 204,390,717 190,000,000 164,625,000 165,638,640 155,303,450 169,073,223

1,022,692,138 990,629,437 831,870,983 823,165,803 846,564,305 839,583,792 244,925,000 134,593,816 139,995,820 226,205,474

254,106,622 256,609,612 269,908,710 274,691,171 179,428,518 160,021,402 175,258,683 157,418,524 123,849,576 122,170,358

146,282,374 166,084,296 169,871,353 125,826,249 126,594,363

4,695,535,432$ 4,205,159,518$ 3,863,220,744$ 3,295,701,530$ 3,150,436,269$ 3,103,179,827$ 3,168,205,235$

114,903,122,547$ 105,768,320,090$ 94,937,915,281$ 90,307,593,352$ 85,824,626,139$ 80,084,299,200$ 74,058,152,416$

2008 2007 2006 2005 2004 2003 2002

0.93% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%0.36% 0.28% 0.00% 0.00% 0.00% 0.00% 0.00%0.39% 0.27% 0.22% 0.20% 0.26% 0.28% 0.23%0.32% 0.39% 0.33% 0.24% 0.00% 0.00% 0.00%0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%0.36% 0.44% 0.62% 0.60% 0.51% 0.59% 0.69%0.43% 0.49% 0.53% 0.51% 0.60% 0.73% 0.87%0.25% 0.24% 0.23% 0.33% 0.31% 0.00% 0.00%0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%0.62% 0.48% 0.40% 0.00% 0.00% 0.00% 0.00%0.24% 0.23% 0.00% 0.00% 0.00% 0.00% 0.00%0.19% 0.19% 0.20% 0.18% 0.19% 0.19% 0.23%0.00% 0.97% 1.04% 0.92% 0.96% 1.06% 1.13%0.00% 0.00% 0.26% 0.00% 0.00% 0.17% 0.19%0.00% 0.00% 0.24% 0.00% 0.00% 0.00% 0.00%0.00% 0.00% 0.00% 0.28% 0.30% 0.34% 0.37%0.00% 0.00% 0.00% 0.20% 0.19% 0.00% 0.00%0.00% 0.00% 0.00% 0.19% 0.18% 0.15% 0.16%0.00% 0.00% 0.00% 0.00% 0.17% 0.21% 0.23%0.00% 0.00% 0.00% 0.00% 0.00% 0.16% 0.17%0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

4.09% 3.98% 4.07% 3.65% 3.67% 3.87% 4.28%

% of Taxable Assessed Value by Tax Year

Taxable Assessed Value by Tax Year

57

Levy Cumulative Levy Adjustment

Adjusted Tax Levy

(a)

Collections-Year of Levy(b)

2011 165,529,411$ 1,217,026$ 166,746,437$ 164,882,248$

2010 166,752,648 7,611,534 174,364,183 171,863,844

2009 163,282,528 7,347,808 170,630,336 168,182,973

2008 158,440,008 759,323 159,199,331 157,104,943

2007 145,656,686 1,117,463 146,774,149 144,425,218

2006 (e) 132,491,200 2,065,866 134,557,066 132,300,437

2005 125,872,507 123,873,298

2004 119,622,047 117,404,793

2003 111,618,881 109,422,270

2002 78,805,815 76,979,733

Source:Tarrant County Tax Assessor/ Collector and District records

Notes:(a) As of August 31st of the current reporting year(b) Property tax only- does not include penalties and interest(c) Represents cumulative collections of prior years not collected in the current year or the year of the tax levy(d) Represents current year collections of prior years levies(e) The District previously did not present this schedule and chose to implement prospectively


Fiscal Year Ended

August 31

STATISTICAL SUPPLEMENT 8PROPERTY TAX LEVIES AND COLLECTIONS


58

Percentage

Prior Collections of Prior Levies

(c)

Current Collections

of Prior Levies(d)

Total Collections(b+c+d)

Cumulative Collections

of Adjusted Levy

98.88% $ $ 164,882,248$ 98.88%

98.57% 852,885 172,716,730 99.06%

98.57% 1,287,439 313,816 169,784,228 99.50%

98.68% 1,549,841 182,945 158,837,730 99.77%

98.40% 1,647,822 95,148 146,168,188 99.59%

98.32% 1,474,332 56,644 133,831,412 99.46%

98.41% 1,565,819 17,533 125,456,650 99.67%

98.15% 742,120 13,641 118,160,554 98.78%

98.03% 422,944 8,901 109,854,116 98.42%

97.68% 194,666 6,316 77,180,715 97.94%

59

2011 2010 2009General Bonded Debt General obligation bonds 30,588,040$ 37,444,583$ 43,834,151$

Less: Funds restricted for debt service (3,260,900) (4,073,884) (4,431,372)

Net general bonded debt 27,327,140 33,370,699 39,402,779

Other Debt Revenue bonds

Total Outstanding Debt 27,327,140$ 33,370,699$ 39,402,779$

General Bonded Debt Ratios Per Capita 15.03$ 18.24$ 21.80$

Per FTSE 962 1,307 1,740

As a percentage of Taxable Assessed Value 0.02% 0.03% 0.03%

Total Outstanding Debt Ratios Per Capita 15.03$ 18.36$ 21.80$

Per FTSE 962 1,307 1,740

As a percentage of Taxable Assessed Value 0.02% 0.03% 0.03%


(UNAUDITED)

STATISTICAL SUPPLEMENT 9RATIOS OF OUTSTANDING DEBT

LAST TEN FISCAL YEARS

60

2008 2007 2006 2005 2004 2003 2002

51,097,358$ 57,077,547$ 62,652,263$ 67,958,824$ 72,651,301$ 77,269,432$ 81,544,243$

(4,795,411) (4,171,254) (4,362,986) (4,245,097) (3,584,893) (3,490,277) (3,399,243)

46,301,947 52,906,293 58,289,277 63,713,727 69,066,408 73,779,155 78,145,000

46,301,947$ 52,906,293$ 58,289,277$ 63,713,727$ 69,066,408$ 73,779,155$ 78,145,000$

26.01$ 30.32$ 34.88$ 39.13$ 43.46$ 47.48$ 53.17$

2,138 2,618 2,842 3,124 3,591 3,993 4,579

0.04% 0.05% 0.06% 0.07% 0.08% 0.09% 0.11%

26.01$ 30.32$ 34.88$ 39.13$ 43.46$ 47.48$ 53.17$

2,138 2,618 2,842 3,124 3,591 3,993 4,579

0.04% 0.05% 0.06% 0.07% 0.08% 0.09% 0.11%


61

2011 2010 2009 2008

Taxable Assessed Value 122,011,215,326$ 127,707,265,683$ 124,619,407,359$ 114,903,122,547$

General Obligation Bonds

Statutory Tax Levy Limit for Debt Service 610,056,077$ 638,536,328$ 623,097,037$ 574,515,613$

Less Funds Restricted for Repayment

of General Obligation Bonds (3,260,900) (4,073,884) (4,431,372) (4,795,411)

Total Net General Obligation Debt 606,795,177 634,462,444 618,665,665 569,720,202

Current Year Debt Service Requirements 8,372,725 8,260,344 9,626,181 8,539,225

Excess of Statutory Limit for Debt Service

over Current Requirements 598,422,452$ 626,202,100$ 609,039,484$ 561,180,977$

Net Current Requirements as a % of

Statutory Limit 0.84% 0.66% 0.83% 0.65%

Note:Texas Education Code Section 130.122 limits the debt service tax levy of community colleges to $0.50 per hundred dollarstaxable assessed valuation.


LEGAL DEBT MARGIN INFORMATIONLAST TEN FISCAL YEARS

(UNAUDITED)

STATISTICAL SUPPLEMENT 10

62

2007 2006 2005 2004 2003 2002

105,768,320,090$ 94,937,915,281$ 90,307,593,352$ 85,824,626,139$ 80,084,299,200$ 74,058,152,416$

528,841,600$ 474,689,576$ 451,537,967$ 429,123,131$ 400,421,496$ 370,290,762$

(4,171,254) (4,362,986) (4,245,097) (3,584,893) (3,490,277) (3,399,243)

524,670,346 470,326,590 447,292,870 425,538,238 396,931,219 366,891,519

8,412,368 8,421,042 8,392,700 8,472,800 8,474,975 11,660,698

516,257,978$ 461,905,548$ 438,900,170$ 417,065,438$ 388,456,244$ 355,230,821$

0.80% 0.85% 0.92% 1.14% 1.24% 2.23%


63

Fiscal Year Operating InterestEnded August 31 Revenue Income Other Total

2011 $ $ $ $

2010

2009

2008

2007

2006

2005

2004

2003

2002 7,520,402 4,917,960 12,986,324 25,424,686

Note:The District only had pledged revenues for fiscal years 1999 - 2002, due to Revenue Bonds beingissued December 1, 1998, with final payment on February 15, 2002.


Pledged Revenues

STATISTICAL SUPPLEMENT 11PLEDGED REVENUE COVERAGE


64

CoveragePrincipal Interest Total Ratio

$ $ $

3,130,000 67,905 3,197,905 7.95

Debt Service Requirements

65

District District DistrictCalendar District Personal Personal Income Unemployment

Year Population Income Per Capita Rate

2011 1,817,840 70,485,542,000$ 38,774$ 8.40%

2010 1,829,400 68,105,714,000 37,228 8.40%

2009 1,807,750 65,870,354,000 36,438 8.20%

2008 1,780,150 61,138,590,000 34,345 5.00%

2007 1,745,050 58,844,636,480 33,721 4.00%

2006 1,671,295 55,513,808,000 33,216 5.00%

2005 1,628,200 55,068,152,220 33,821 5.70%

2004 1,589,200 51,951,087,000 32,690 5.82%

2003 1,553,850 49,151,450,000 31,632 6.10%

2002 1,469,787 47,735,316,000 32,478 6.20%

Sources:Population from US Bureau of the CensusPersonal Income from US bureau of Economic AnalysisUnemployment rate from Texas Workforce Commission


(UNAUDITED)

STATISTICAL SUPPLEMENT 12DEMOGRAPHIC AND ECONOMIC STATISTICS - TAXING DISTRICT

LAST TEN FISCAL YEARS

66

Employer

Number of

Employees

Percentage of Total

Employment

Number of

Employees

Percentage of Total

Employment

Lockheed Martin Corp 13,500 0.83% 13,500 0.83%

American Airlines 11,709 0.72% 11,709 0.72%

NAS Fort Worth Joint Reserve Base 11,350 0.70% 11,350 0.70%

American Airlines/ HQ 6,500 0.40% 6,500 0.40%

University of Texas at Arlington 5,300 0.33% 5,300 0.33%

John Peter Smith Hospital 4,302 0.26% 4,302 0.26%

Harris Methodist Fort Worth 3,968 0.24% 3,968 0.24%

Bell Helicopter Textron Plant 3,820 0.24% 3,820 0.24%

Alcon 3,300 0.20% 3,300 0.20%

Fidelity Investments 3,200 0.20% 3,200 0.20%

Cowboys Stadium

Odyssey One Source Inc

Cook Children's Health Care System

RadioShack Corp

Tarrant County Administrative Office

Harris Methodist Southwest

66,949 4.12% 66,949 4.12%

Source:North Central Texas Council of Governments (Source data has not been updated since prior year)

Note:The District previously did not present this schedule and chose to implement prospectively.

2011


PRINCIPAL EMPLOYERS

2010

LAST SIX FISCAL YEARS(UNAUDITED)

68

Number of

Employees

Percentage of

Total Employment

Number of

Employees

Percentage of

Total Employment

Number of

Employees

Percentage of

Total Employment

Number of

Employees

Percentage of

Total Employment

13,500 0.83% 13,500 0.83% 16,000 0.99% 16,800 1.03%

11,842 0.73% 11,842 0.73% 12,000 0.74% 5,011 0.31%

5,361 0.33% 5,361 0.33% 5,361 0.33% 3,906 0.24%

6,500 0.40% 4,118 0.25% 4,118 0.25% 4,118 0.25%

4,987 0.31% 3,337 0.21% 3,337 0.21% 5,079 0.31%

4,302 0.26% 3,811 0.23% 3,811 0.23% 3,473 0.21%

3,968 0.24% 3,500 0.22% 3,500 0.22% 4,000 0.25%

3,820 0.24% 3,820 0.24% 3,478 0.21%

3,500 0.22%

3,273 0.20%

3,900 0.24% 3,900 0.24% 3,740 0.23%

3,337 0.21% 3,337 0.21%

4,141 0.26%

3,789 0.23%

61,053 3.76% 56,526 3.48% 58,842 3.62% 54,057 3.33%

20062008 20072009

69

2011 2010 2009 2008Faculty

Full-Time 673 664 602 576 Part-Time 501 473 490 431

Total 1,174 1,137 1,092 1,007

PercentFull-Time 57.3% 58.4% 55.1% 57.2%Part-Time 42.7% 41.6% 44.9% 42.8%

Staff and AdministratorsFull-Time 1,398 1,338 1,174 1,070 Part-Time 971 956 804 1,058

Total 2,369 2,294 1,978 2,128

PercentFull-Time 59.0% 58.3% 59.4% 50.3%Part-Time 41.0% 41.7% 40.6% 49.7%

FTSE per Full-Time Faculty 42 43 38 38 FTSE per Full-Time Staff Member 18 21 19 20

Average Annual Faculty Salary (a) 59,496$ 60,110$ 58,209$ 55,981$

Note:(a) Survey format and methodology were changed FY 2003



FACULTY, STAFF AND ADMINISTRATORS STATISTICS

70

2007 2006 2005 2004 2003 2002

545 522 494 478 485 471 476 437 436 400 390 373

1,021 959 930 878 875 844

53.4% 54.4% 53.1% 54.4% 55.4% 55.8%46.6% 45.6% 46.9% 45.6% 44.6% 44.2%

1,062 1,072 1,076 1,064 1,101 1,080 1,114 1,039 1,058 991 976 918

2,176 2,111 2,134 2,055 2,077 1,998

48.8% 50.8% 50.4% 51.8% 53.0% 54.1%51.2% 49.2% 49.6% 48.2% 47.0% 45.9%

37 39 41 40 38 36 19 19 19 18 17 16

55,515$ 54,122$ 54,956$ 52,641$ 51,910$

71

Student Classification Number Percent Number Percent Number Percent Number Percent Number Percent

00-30 hours 37,994 65% 34,988 67% 30,545 67% 28,825 67% 25,447 66%31-60 hours 15,133 26% 13,021 25% 10,970 24% 10,112 24% 9,731 25%Unclassified 1,671 3% 1,509 3% 1,324 3% 1,161 3% 1,088 3%Associates 2,059 4% 1,783 3% 1,588 4% 1,533 4% 1,407 4%

Bachelors 1,194 2% 1,048 2% 898 2% 787 2% 778 2%

Total 58,051 100% 52,349 100% 45,325 100% 42,418 100% 38,451 100%

Semester Hour Load

0-11 semester hours 37,153 64% 33,503 64% 29,914 66% 27,784 66% 24,993 65%12 & over 20,898 36% 18,846 36% 15,411 34% 14,634 34% 13,458 35% Total 58,051 100% 52,349 100% 45,325 100% 42,418 100% 38,451 100%

Average course load 8.70 8.60 8.60 8.60 8.70

Tuition StatusTexas Resident (in-District) 50,870 88% 45,937 88% 40,104 89% 37,301 88% 33,971 89%Texas Resident (out-of-district) 4,267 7% 4,002 8% 3,219 7% 3,463 8% 3,239 8%Non-Resident Tuition 2,914 5% 2,410 4% 2,002 4% 1,654 4% 1,241 3%

Total 58,051 100% 52,349 100% 45,325 100% 42,418 100% 38,451 100%

Source: CBM001

Note:A change in administrative software changed the data accumulation beginning Fall 2004.

Fall 2008Fall 2009 Fall 2007 Fall 2006

ENROLLMENT DETAILSLAST NINE FISCAL YEARS

Fall 2010


(UNAUDITED)

72

Number Percent Number Percent Student Classification Number Percent Number Percent

25,784 67% 26,774 70% 00-30 hours 20,143 58% 18,917 57%9,536 25% 9,413 25% 31-60 hours 7,912 23% 7,489 23%

965 2% 1,605 4% Unclassified 6,598 19% 6,423 20%1,485 4% 146 0% Total 34,653 100% 32,829 100%

818 2% 336 1%

38,588 100% 38,274 100%

Semester Hour Load

24,696 64% 24,113 63% Less than 6 8,472 24% 8,278 25%13,892 36% 14,161 37% 6-8 semester hours 9,304 27% 8,238 25%38,588 100% 38,274 100% 9-11 semester hours 5,599 16% 5,439 17%

12-14 semester hours 9,230 27% 8,873 27%15-17 semester hours 1,782 5% 1,754 5%18 & over 266 1% 247 1% Total 34,653 100% 32,829 100%

8.70 8.41 Average course load 8.46 8.49

Tuition Status

34,242 89% 34,164 90% Texas Resident (in-District) 31,244 90% 29,761 92%

3,171 8% 3,050 8% Texas Resident (out-of-district) 2,783 8% 2,485 8%1,175 3% 1,060 2% Non-Resident Tuition 626 2% 583 0%

38,588 100% 38,274 100% Total 34,653 100% 32,829 100%

Fall 2003 Fall 2002Fall 2005 Fall 2004

73

Gender Number Percent Number Percent Number Percent Number Percent Number Percent

Female 34,864 60.1% 31,347 59.9% 27,371 60.4% 25,701 60.6% 23,238 60.4%

Male 23,187 39.9% 21,002 40.1% 17,954 39.6% 16,717 39.4% 15,213 39.6%

Total 58,051 100.0% 52,349 100.0% 45,325 100.0% 42,418 100.0% 38,451 100.0%

Ethnic Origin

White 30,683 52.9% 29,333 56.0% 26,278 58.0% 25,308 59.6% 23,424 61.0%

Hispanic 12,064 20.8% 10,412 19.9% 8,421 18.6% 7,472 17.6% 5,780 15.0%

African American 10,485 18.1% 8,647 16.5% 7,143 15.8% 6,429 15.2% 6,511 16.9%

Asian 3,462 6.0% 3,121 6.0% 2,768 6.1% 2,464 5.8% 2,128 5.5%

Native American 293 0.5% 253 0.5% 256 0.5% 192 0.5% 193 0.5%

Other 1,064 1.8% 583 1.1% 459 1.0% 553 1.3% 415 1.1%

Total 58,051 100.0% 52,349 100.0% 45,325 100.0% 42,418 100.0% 38,451 100.0%

Age

Under 17 1,093 1.9% 768 1.5% 468 1.0% 390 0.9% 83 0.2%

17 1,853 3.2% 2,047 3.9% 1,675 3.7% 1,609 3.8% 715 1.9%

18 5,858 10.1% 5,637 10.8% 5,146 11.4% 4,871 11.5% 4,597 12.0%

19-21 16,736 28.8% 15,610 29.8% 14,218 31.4% 13,326 31.4% 12,310 32.1%

22-24 9,340 16.1% 8,156 15.6% 7,136 15.7% 6,794 16.0% 6,273 16.3%

25-30 10,303 17.7% 8,737 16.7% 7,228 15.9% 6,611 15.6% 6,159 16.0%

31-35 4,668 8.0% 4,046 7.7% 3,306 7.3% 3,012 7.1% 2,825 7.3%

36-50 6,823 11.8% 6,095 11.6% 5,157 11.4% 4,941 11.6% 4,671 12.1%

51-64 1,277 2.2% 1,145 2.2% 906 2.0% 799 1.9% 737 1.9%

65 and Older 100 0.2% 108 0.2% 85 0.2% 65 0.2% 81 0.2%

Total 58,051 100.0% 52,349 100.0% 45,325 100.0% 42,418 100.0% 38,451 100.0%

Average Age 25.6 25.6 25.3 25.3 25.6

Source:CBM001

Note:A change in administrative software changed the data accumulation beginning Fall 2004.


Fall 2008

STUDENT PROFILELAST TEN FISCAL YEARS

Fall 2007 Fall 2006

(UNAUDITED)

Fall 2009Fall 2010

74

Number Percent Number Percent Gender Number Percent Number Percent Number Percent

22,869 59.3% 24,946 65.2% Female 20,360 58.8% 19,053 58.0% 17,300 57.4%

15,719 40.7% 13,328 34.8% Male 14,293 41.2% 13,776 42.0% 12,820 42.6%

38,588 100.0% 38,274 100.0% Total 34,653 100.0% 32,829 100.0% 30,120 100.0%

Ethnic Origin

24,152 62.6% 24,271 63.4% White 22,312 64.4% 21,684 66.0% 20,245 67.2%

6,310 16.3% 5,832 15.2% Hispanic 5,282 15.2% 4,656 14.2% 4,132 13.7%

5,366 13.9% 5,348 14.0% African American 4,666 13.5% 4,175 12.7% 3,634 12.1%

2,058 5.3% 1,989 5.2% Asian 1,912 5.5% 1,859 5.7% 1,734 5.7%

214 0.6% 233 0.6% Native American 261 0.8% 249 0.8% 228 0.8%

488 1.3% 601 1.6% Other 220 0.6% 206 0.6% 147 0.5%

38,588 100.0% 38,274 100.0% Total 34,653 100.0% 32,829 100.0% 30,120 100.0%

Age

95 0.3% 75 0.2% Under 21 12,257 35.4% 11,690 35.6% 10,948 36.3%

682 1.8% 690 1.8% 21-25 10,242 29.5% 9,540 29.1% 8,423 28.0%

4,464 11.6% 4,422 11.5% 26-30 3,991 11.5% 3,739 11.4% 3,363 11.2%

12,664 32.8% 12,511 32.7% 31-35 2,755 7.9% 2,565 7.8% 2,353 7.8%

6,576 17.0% 6,481 16.9% 36-40 2,002 5.8% 1,957 5.9% 1,882 6.2%

5,959 15.4% 5,776 15.1% 41-45 1,583 4.6% 1,568 4.8% 1,466 4.9%

2,906 7.5% 2,916 7.6% Over 45 1,823 5.3% 1,770 5.4% 1,685 5.6%

4,412 11.4% 4,653 12.2% Total 34,653 100.0% 32,829 100.0% 30,120 100.0%

758 2.0% 690 1.8%

72 0.2% 60 0.2%

38,588 100.0% 38,274 100.0%

25.5 25.5 Average Age 26.2 26.2 26.1

Fall 2004 Fall 2003 Fall 2002 Fall 2001Fall 2005

75

Transfer Transfer Transfer Total of % of Student Student Student all all Count Count Count Transfer Transfer

Academic Technical Tech-Prep Students StudentsUniversities:

Angelo State University 36 2 4 42 0.31%Lamar University 15 3 18 0.13%Midwestern State University 122 33 7 162 1.18%Prairie View A&M University 38 14 8 60 0.44%Sam Houston State University 55 14 3 72 0.53%Stephen F. Austin State University 237 24 27 288 2.11%Sul Ross State University 3 1 2 6 0.04%Tarleton State University 450 98 48 596 4.36%Texas A&M University International University 2 2 0.01%Texas A&M University 672 16 32 720 5.26%Texas A&M University-Central Texas 2 3 1 6 0.04%Texas A&M University-Commerce 86 16 17 119 0.87%Texas A&M University-Corpus Christi 16 8 1 25 0.18%Texas A&M University-Kingsville 4 1 5 0.04%Texas A&M University-Texarkana 1 1 0.01%Texas A&M University- Galveston 15 15 0.11%Texas A&M University- San Antonio 1 1 0.01%Texas Southern University 15 2 2 19 0.14%Texas State University 256 9 31 296 2.16%Texas Tech University 608 49 54 711 5.20%Texas Woman's University 669 119 43 831 6.08%The University of Texas at Arlington 5,047 876 440 6,363 46.52%The University of Texas at Austin 478 20 14 512 3.74%The University of Texas at Brownsville 2 2 4 0.03%The University of Texas at Dallas 128 4 14 146 1.07%The University of Texas at El Paso 6 1 2 9 0.07%The University of Texas-Pan American 3 3 6 0.04%The University of Texas at San Antonio 39 2 3 44 0.32%The University of Texas at Tyler 51 4 3 58 0.42%The University of Texas of the Permian Basin 11 1 12 0.09%University of Houston 107 4 6 117 0.86%University of Houston- Downtown 4 4 8 0.06%University of Houston at Clear Lake 3 3 0.02%University of Houston at Victoria 11 2 13 0.10%University of North Texas 1,890 176 194 2,260 16.52%University of North Texas at Dallas 92 5 14 111 0.81%West Texas A&M University 16 1 17 0.12%

Total 11,189 1,512 977 13,678 100.00%

Source: http://www.txhighereddata.org/reports/performance/ctcasalf/ctcaddl/

(INCLUDES ONLY PUBLIC SENIOR COLLEGES IN TEXAS)(UNAUDITED)


TRANSFER TO SENIOR INSTITUTIONS2009-2010 GRADUATES, COMPLETERS AND NON-RETURNERS

76

2011 2010 2009 2008 2007 2006 (a)

Academic Buildings 79 60 52 41 40 42

Square footage 2,167,963 2,030,332 2,021,500 1,625,000 1,611,000 1,611,000

Libraries 5 5 5 4 4 4

Square footage 127,000 127,000 127,000 113,000 113,000 113,000

Number of Volumes 266,019 253,989 237,318 212,591 249,630 255,062

Administrative and support buildings 13 11 10 8 8 8

Square footage 77,400 70,500 69,000 66,000 66,000 66,000

Dining Facilities 6 5 5 4 4 4

Square footage 80,109 79,000 79,000 61,000 61,000 61,000

Average daily customers 2,345 2,230 1,308 1,380 1,208 1,075

Athletic Facilities 13 13 13 12 12 12

Square footage 172,000 172,000 172,000 166,000 166,000 166,000

Gymnasiums 4 4 4 4 4 4

Fitness Centers 5 5 5 4 4 4

Tennis Courts 3 3 3 2 2 4

Plant facilities 12 11 11 10 10 11

Square footage 97,100 91,000 91,000 56,000 56,000 56,000

Transportation

Cars 52 44 44 41 41 22

Light Trucks/Vans 112 127 130 128 120 128

Note:(a) The District previously did not present this schedule and chose to implement prospectively.

TARRANT COUNTY COLLEGE DISTRICTSTATISTICAL SUPPLEMENT 18CAPITAL ASSET INFORMATION

LAST SIX FISCAL YEARS(UNAUDITED)

77

Federal Single AuditSection

Federal Single AuditSection

Federal Single Audit Section

1 of 3

Pass Pass ThroughFederal Through DisbursementsCFDA Grantor's and

Number Number Expenditures

U.S. DEPARTMENT OF EDUCATION

Federal Direct Programs:

Student Financial Assistance Cluster

Federal Supplemental Educational Opportunity Grant 84.007 917,006$

Federal Work Study Program 84.033 546,856

Federal Pell Grant Program 84.063 79,890,877

Federal Direct Student Loans 84.268 27,761,464

Academic Competitiveness Grants 84.375 1,271,822

Higher Education Institutional Aid 84.031A 312,259

TRIO Cluster

TRIO Student Support Services 84.042A 255,431

TRIO Upward Bound 84.047A 674,350

Total Direct from U.S. Department of Education 111,630,065

Pass-Through from:

Texas Education Agency

Adult Education - Basic Grants to States 84.002 220-905 210,907

Texas Higher Education Coordinating Board

Career and Technical Education - Basic Grants to States 84.048 114242 982,393

Career and Technical Education - Basic Grants to States 84.048 111103 75,317

1,057,710

Leveraging Educational Assistance Partnership 84.069A 9100081M 6,917

Special Leveraging Educational Assistance Partnership 84.069B 9100078M 9,877

College Access Challenge Grant Program 84.378 9105073M 6,000

ARRA - State Fiscal Stabilization Fund - Government Services 84.397A S397A090044 43,583

Dallas County Community College District

Tech-Prep Education 84.243 111707 183,519


Statewide Longitudinal Data System Grant 84.372 9106178M 10,000

Office of the Governor

ARRA - State Fiscal Stabilization Fund - Government Services 84.397A 3002666 1,811,350

Total U.S. Department of Education 114,969,928

Federal Grantor/Pass-Through Grantor/

Program Title

TARRANT COUNTY COLLEGE DISTRICTSCHEDULE E

SCHEDULE OF EXPENDITURES OF FEDERAL AWARDSYEAR ENDED AUGUST 31, 2011

79

2 of 3



U.S. DEPARTMENT OF AGRICULTUREPass-Through From:

Stephen F. Austin State University

Higher Education Challenge Grants - Virtual Reach 10.217 2009-38411-19764 7,551

Texas Workforce Commission

State Administrative Matching Grants for the Supplemental

Nutrition Assistance Program 10.561 0511ATP000 23,963

Total U.S. Department of Agriculture 31,514

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Pass-Through from:

Water from the Rock

Community Development Block Grants/Entitlement Grants 14.218 17,429

U.S. DEPARTMENT OF LABOR

Pass-Through from:

North Central Texas Council of Governments

Community Based Job Based Training 17.269 CB20564-10-60-A-48 374,435

Texas Workforce Commission

WIA Cluster

WIA Dislocated Workers 17.278 0510WSW000 248,195 Apprenticeship -WIA Dislocated Workers 17.278 0511ATP000 99,485

347,680

Total U. S. Department of Labor 722,115

U.S. GENERAL SERVICES ADMINISTRATION

Pass-Through from:

Texas General Services Commission

Donation of Federal Surplus Personal Property 39.003 69,900

U.S. SMALL BUSINESS ADMINISTRATION

Pass-Through from:

North Texas Small Business Development Center

Small Business Development Centers 59.037 1-603001-Z-0046-25 128,905

Small Business Development Centers 59.037 0-603001-Z-0046-24 562

129,467

Federal Grantor/Pass-Through Grantor/

Program Title



80

3 of 3



DEPARTMENT OF ENERGY

Pass-Through from:

Texas Comptroller of Public Accounts

ARRA - State Energy Program 81.041 CS0093 325,845

NATIONAL ARCHIVES AND RECORDS ADMINISTRATION

National Historical Publication and Records Grants 89.003 NAR10-RB-50107-10 11,717

DEPARTMENT OF HEALTH AND HUMAN SERVICES

Pass-Through from:


Temporary Assistance for Needy Families 93.558 220-905 19,948

NATIONAL INSTITUTE OF GENERAL MEDICAL SCIENCES

Pass-Through from:

Texas Woman's University

Biomedical Research and Research Training 93.859 2R25GM58397-07 12,252

Total Federal Financial Assistance 116,310,115$

See Notes to Schedule on Following Page

Pass-Through Grantor/Program Title



Federal Grantor/

81

82


NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS

NOTE 1: Federal Assistance Reconciliation Federal Revenues – per Schedule of Expenditures of Federal Awards: Federal Grants and Contracts – per Schedule A $ 3,738,898 Federal Grants and Contracts – per Schedule C 84,809,753 Direct Loans 27,761,464 Total Federal Revenues per Schedule of Expenditures of Federal Awards $116,310,115

NOTE 2: Significant Accounting Policies Used in Preparing the Schedule

The expenditures included in the schedule are reported for the District’s fiscal year. Expenditure reports to funding agencies are prepared on the award period basis. The expenditures reported above represent funds which have been expended by the District for the purposes of the award. The expenditures reported above may not have been reimbursed by the funding agencies as of the end of the fiscal year. Some amounts reported in the schedule may differ from amounts used in the preparation of the financial statements. Separate accounts are maintained for the different awards to aid in the observance of limitations and restrictions imposed by the funding agencies. Management believes they have followed all applicable guidelines issued by various entities in the preparation of the schedule.

NOTE 3: Student Loans Processed and Administrative Costs Recovered

Total Loans Admin Processed & Federal Grantor/ New Loans Cost Admin Cost CFDA Number/Program Name Processed Recovered Recovered

U.S. Department of Education:

84.268 Direct Loans $27,761,464 $ - $ 27,761,464

NOTE 4: Non-monetary Assistance Noncash expenditures of $69,900 for CFDA No. 39.003, Donation of Federal Surplus Personal

Property Program, represent 23.3% of the original acquisition cost of the donated federal surplus property obtained during the fiscal year.

87

TARRANT COUNTY COLLEGE DISTRICT FEDERAL SCHEDULE OF FINDINGS AND QUESTIONED COSTS


Section I. Summary of Auditor’s Results

Financial Statements The type of auditor’s report issued: Unqualified Internal Control over Financial reporting:

Material weakness(es) identified yes X no

Significant deficiencies identified that are not considered to be material weaknesses? yes X no

Noncompliance material to financial statements noted? yes X no Federal Awards Internal control over major programs: Material weakness(es) identified yes X no

Significant deficiencies identified

that are not considered to be material weaknesses? yes X no

Type of auditor’s report issued on compliance for major programs: Unqualified Any audit findings disclosed that are required to be reported in accordance with section 510(a) of Circular A-133? yes X no Identification of major programs: Student Financial Assistance Cluster ARRA – State Fiscal Stabilization Fund - Government Services TRIO Cluster ARRA – State Energy Program Higher Education Institutional Aid Community Based Job Training Dollar threshold used to distinguish between type A and type B programs: $300,000 Auditee qualified as low-risk auditee? X yes no

88

TARRANT COUNTY COLLEGE DISTRICT FEDERAL SCHEDULE OF FINDINGS AND QUESTIONED COSTS

YEAR ENDED AUGUST 31, 2011 Section II. Financial Statement Findings

There were no findings relating to internal control or compliance which are required to be reported in accordance with Government Auditing Standards.

Section III. Federal Award Findings and Questioned Costs

There were no findings relating to internal control or compliance which are required to be reported in accordance with U.S. Office of Management and Budget Circular A-133.

Section IV. Corrective Action Plan

The current year audit of federal awards disclosed no findings that require a corrective action plan.

Section V. Prior Year Audit Findings

10-01 Condition: We noted instances in which the District’s procurement process was not in compliance with regulatory requirements in regards to competitive bidding.

Recommendation: We recommend that the District ensure that its procurement process includes personnel sufficiently knowledgeable with state procurement statutes to ensure that competitive bidding requirements have been satisfied. Current Status: No similar findings were noted in 2011 audit.

State Single AuditSection

State Single AuditSection

State Single Audit Section

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Grant Contract Number Expenditures

TEXAS WORKFORCE COMMISSION

Apprenticeship 0511ATP000 157,333$

Apprenticeship 0510ATP000 15,696

Skills Development Aerospace Manufacturing Consortium 0509SDF001 519,957

692,986

Pass Through from:

Texas State Technical College

Skills Development Fund - Hospital Corporation of America 1310SDF000 768,896

Total Texas Workforce Commission 1,461,882

TEXAS EDUCATION AGENCY

Adult Basic Education Program 220-905 36,223

TEXAS COMPTROLLER OF PUBLIC ACCOUNTS

Law Enforcement Office Standards and Education 9P110538 1,985

Jobs and Education for Texans 911JET16 66,106

JET Job Building Fund - Equipment 4776-15 275,267

JET Launchpad Project SWEET 4777-6 168,375

Total Texas Comptroller of Public Accounts 511,733

TEXAS HIGHER EDUCATION COORDINATING BOARD

Work Study 9100106M 137,578

Be On Time 9100038H 83,197

Toward Excellence, Access and Success Grant I 9100088M 2,531,644

Texas Equalization Opportunity Grant 9100084M 536,860

Texas State Nursing 9100405M 13,500

P16 College Readiness 9803526M 4,895

Professional Nursing Shortage Reduction - 2010 9000913M 141,521

Professional Nursing Shortage Reduction - 2011 9106843M 2,025

Professional Nursing Shortage Over 70% Program - 2011 9105206M 19,435

Accelerated Developmental Education Pilot Project - ModMath 9000874M 1,278

P-16 Developmental Education Demonstration Project

and Adult Basic Education 9104938M 451,312

Top 10% Scholarship 9100473M 65,252

Hinson-Hazelwood CAL 9100710H 5,782

Texas Armed Services 9102272H 6,897

Early High School Graduation 9100099M 251,476

Educational Aide Exemption Program 9100230M 51,915

Grant Agency / Program Title

TARRANT COUNTY COLLEGE DISTRICTSCHEDULE F

SCHEDULE OF EXPENDITURES OF STATE AWARDS YEAR ENDED AUGUST 31, 2011

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Grant Contract Number Expenditures

Pass Through from:

El Paso Community College

Community College Development Education Initiative Program 38,018

Texas State University - San Marcos

Success Initiative I - SIDE-M 8000001440.5A 5,311

University of Texas at San Antonio

TexPrep Southeast 7,290

Total Texas Higher Education Coordinating Board 4,355,186

DALLAS COUNTY COMMUNITY COLLEGE

Small Business Development Center 1-603001-Z-0046-25 38,446

Total Dallas County Community College 38,446

Total State Financial Assistance 6,403,470$

See Notes to Schedule on Following Page


Grant Agency / Program Title

YEAR ENDED AUGUST 31, 2011SCHEDULE OF EXPENDITURES OF STATE AWARDS

SCHEDULE F

90

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NOTES TO SCHEDULE OF EXPENDITURES OF STATE AWARDS

NOTE 1: State Assistance Reconciliation State Revenues – per Schedule of Expenditures of State Awards: State Grants and Contracts – per Schedule A $ 6,403,470 Total State Revenues per Schedule of Expenditures of State Awards $ 6,403,470 NOTE 2: Significant Accounting Policies Used in Preparing the Schedule

The expenditures included in the schedule are reported for the District’s fiscal year. Expenditure reports to funding agencies are prepared on the award period basis. The expenditures reported above represent funds, which have been expended by the District for the purposes of the award. The expenditures reported above may not have been reimbursed by the funding agencies as of the end of the fiscal year. Separate accounts are maintained for the different awards to aid in the observance of limitations and restrictions imposed by the funding agencies. Management believes they have followed all applicable guidelines issued by various entities in the preparation of the schedule.

95

TARRANT COUNTY COLLEGE DISTRICT STATE SCHEDULE OF FINDINGS AND QUESTIONED COSTS


Section I. Summary of Auditor’s Results

Financial Statements The type of auditor’s report issued: Unqualified Internal Control over Financial reporting:

Material weakness(es) identified yes X no

Significant deficiencies identified that are not considered to be material weaknesses? yes X no

Noncompliance material to financial statements noted? yes X no

State Awards Internal control over major programs: Material weakness(es) identified yes X no

Significant deficiencies identified

that are not considered to be material weaknesses? yes X none reported

Type of auditor’s report issued on compliance for major programs: Unqualified Any audit findings disclosed that are required to be reported in accordance with section 510(a) of the Uniform Grant Management Standards Single Audit Circular? yes X no Identification of major programs: Skills Development Fund – Hospital Corporation of America P-16 Developmental Education Demonstration Project and Adult Basic Education Toward Excellence, Access and Success Grant I

96

TARRANT COUNTY COLLEGE DISTRICT STATE SCHEDULE OF FINDINGS AND QUESTIONED COSTS


Dollar threshold used to distinguish between type A and type B programs: $300,000 Auditee qualified as low-risk auditee? yes X no

Section II. Financial Statement Findings

There were no findings relating to internal control or compliance which are required to be reported in accordance with Government Auditing Standards.

Section III. State Award Findings and Questioned Costs

There were no findings relating to internal control or compliance which are required to be reported in accordance with Government Auditing Standards and UGMS.

Section IV. Corrective Action Plan The current year audit of state awards disclosed no findings that require a corrective action

plan.

Section V. Prior Year Audit Findings

10-01 Condition: The District charged expenditures in the amount of $22,794 to the Skills Development Manufacturing Consortium grant that were not allowable according to contract terms.

Recommendation: We recommend that the District ensure that personnel with the responsibility of approval of grant expenditures are knowledgeable about the terms of the grant and that their review is rigorous and detailed enough to detect any items that are not in compliance with the contract terms. Current Status: No similar findings were noted in 2011 audit.

Tarrant County College DistrictFinance Department1500 Houston Street

Fort Worth, Texas 76102

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